Eurocell, the British-Korean battery company, has announced its plan to build the first-ever European Gigafactory as it is already in advance discussions with authorities and Netherlands’ investment and development agency, NOM.
The initial investment costs USD 800 million (EUR 786.4m), and the total could increase to $2 billion (EUR 788m) by 2028, according to electrive.com.
Eurocell originally revealed plans for such a facility in Western Europe last February, naming the United Kingdom, the Netherlands, and Spain as prospective locations for the first European Eurocell Gigafactory.
Even at the time, it was said that the ultimate decision would be highly dependent on “getting the right level of support and investment from central government.”
It appears that the Netherlands is the one to offer the right level of support and investment among the other potential candidates for the site construction. Although the company has not yet officially announced the anticipated location, a recent statement said that Eurocell would be confirming the exact location nearly as the discussions are already at an advanced stage.
On the other hand, the timeline now confirms that the new European Gigafactory will be constructed in two phases reaching full capacity in 2025. By early 2023, the production of advanced battery cells for European customers will be included in the first phase, while the second phase will produce more than 40 million cells annually by 2025.
Nick Clay, chief commercial officer, Eurocell EMEA, stated, “With rapid expansion plans in Europe, Eurocell is encouraged by the positive engagement we have had with both the Dutch Government and NOM investment and development agency for the Northern Netherlands over the last few months,” and added, “As we enter the final stages of discussions, we are confident that we will be able to confirm the exact location of our first European Gigafactory in the near future.”
South Korean firms that support Eurocell EMEA have decades of experience in electrochemistry, battery mass production, and Gigafactory construction. Interestingly, the numerous opportunities discovered in mainland Europe during the project’s initial phase search have strengthened its aggressive expansion goals.