Bratislava new energy storage manufacturer

How much money will Slovakia invest in EV batteries?

The total investment in the facility is expected to reach EUR 1 billion. Тhe Slovakian firm aims to be able to produce batteries for about 240,000 electric vehicles (EVs) annually by 2024. It plans to start building the first phase 100-MWh production line later this year, with the first batteries to be ready for distribution in late 2021.

Where will the first battery Gigafactory be located in Slovakia?

The first battery gigafactory in Slovakia will be located in Šurany on a 95-hectare area and will create thousands of jobs. In the initial development stage, it will have a capacity of 20 GWh with the further potential to reach a capacity of up to 40 GWh.

How much money does INOBAT auto get from Slovakia?

InoBat Auto, the Bratislava-based battery maker with plans for a 10-GWh plant, has secured funding from the Slovakian government for a research and development (R&D) facility. This forms part of the EUR-100-million (USD 111.8m) first-phase fundraising in support of the ambitious Gigafactory project, InoBat said on Monday.

Why did Slovakia choose a Gigafactory?

Minister of Economy of the Slovak Republic Denisa Saková appreciated the choice of location in Slovakia, adding that in addition to new jobs, the gigafactory will bring cutting-edge technology to the region.