- It also said that it is investing the equivalent of $2.3 billion to build two factories in the western state of Saarland by the end of 2023
- Svolt announced last year that it will be looking for a European production site to strengthen its links with European car manufacturers
Chinese electric car battery manufacturer Svolt said that it will put up to 2 billion euros into establishing a base in Germany. It also said that it is investing the equivalent of $2.3 billion to build two factories in the western state of Saarland by the end of 2023. This will create 2,000 jobs.
Svolt announced last year that it will be looking for a European production site to strengthen its links with European car manufacturers. According to Svolt chief Yang Hongxin, the move is intended to target “the European automotive industry and the growing market for renewable energies.
Batteries totalling 24 Gigawatt hours (GWh) per year
He added that Saarland was chosen because “it is not only at the heart of Europe, but also represents a region of innovation and technology for the automotive industry. It will produce batteries totalling 24 Gigawatt hours (GWh) per year.
Svolt combines systemic knowledge in the field of battery systems and management with expertise in the field of vehicle integration. It is able to offer its customers tailor-made solutions at the battery cell, module and high-voltage storage system (pack) level as well as the corresponding software.
