The Anglo-Korean next-generation battery company, Eurocell, has confirmed that it is in advanced discussions to build its first European Gigafactory in the Netherlands with an initial investment of $800 million, rising to $2bn by 2028.
The Gigafactory will supply battery cells to the energy storage and e-mobility ecosystem across the continent and will produce ‘production ready’ technologies in 12 months, Eurocell noted.
Eurocell intends to construct its new Gigafactory in two phases reaching full capacity as early as 2025, a press release from the company noted.
During the first phase, Eurocell will produce advanced battery cells at scale by early 2023 for existing European customers, while in the second phase, potentially on the same site, it will be capable of producing more than 40 million cells per year by 2025.
Additionally, through the Gigafactory, Eurocell aims to create hundreds of direct and indirect jobs, transferring vital skills from Korean battery experts, and boosting the economy in this strategic sector crucial to achieving the Netherlands’ and Europe’s net zero ambitions.
Nick Clay, Chief Commercial Officer, Eurocell EMEA, noted that in its Climate Policy, the Netherlands outlines its ambition to lead Europe in the fight against global warming with a comprehensive strategy to reduce emissions across industries.
“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,” he added.