Taiwanese battery maker ProLogium Technology Co. aims to start mass production of a new generation of cells for electric vehicles in France from 2027 as part of its project to invest as much as €5.2 billion ($5.7 billion) in the country.
(Bloomberg) — Taiwanese battery maker ProLogium Technology Co. aims to start mass production of a new generation of cells for electric vehicles in France from 2027 as part of its project to invest as much as €5.2 billion ($5.7 billion) in the country.
“We really want to have material procurement in Europe, R&D centers in Europe, and mass production capacity in Europe,” said Gilles Normand, ProLogium’s executive vice president for international development and a former Renault SA executive. “Europe is a little ahead of the US in terms of EV adoption.”
ProLogium’s decision to heavily invest on research, development and production in a European nation comes amid mounting tensions between Taiwan and China, Vincent Yang, the company’s founder and chief executive officer, told reporters in Paris this week. The company plans to start building the plant in the French port of Dunkirk from the middle of next year.
The group, founded in 2006, is one of a handful of companies touting advanced battery technology that’s more powerful, durable, faster to charge and safer than the lithium-ion cells used in many electric vehicles. While solid-state technology offers vast potential improvements that could accelerate EV adoption, it has yet to be produced at scale.
Solid-State
The solid-state battery startup, which aims to complete a plant with 2 gigawatt-hours of annual production capacity in Taiwan next year, will target 8 gigawatt-hours of capacity at its French plant in 2027. That would rise to 48 gigawatt-hours by about 2030, enough to supply batteries for as many as 750,000 cars a year, according to a description of the project posted on the website of France’s public hearing office.
The multi-billion investment will be touted as good news by the French President Emmanuel Macron, who’s regularly facing protests since his government passed a law to raise the retirement age. The planned investment remains subject to confirmation by Macron, who is due to travel to Dunkirk Friday.
Read more: Mercedes-Backed ProLogium Said to Seek Funds at $2 Billion Value
The Taiwanese group plans to finance its French investment with a mix of its own funds, loans, and incentives from public authorities. German carmaker Mercedes-Benz Group AG and Vietnam’s VinFast are among groups that have invested in the startup, which is discussing with other carmakers and investors for new partnerships, Normand said.
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