According to forecasts by Germany's Fraunhofer Institute for Systems and Innovation (ISI), European battery production will quadruple in the next three years to more than 500GWh and 1.5TWh by 2030.
The latest research suggests that Europe could have about a quarter of global battery production capacity by 2030, with battery factories already announced in at least 15 European countries.
According to the agency's forecast, new battery production plants in Germany will contribute the largest share of Europe's 400GWh annual battery output by 2030. The current global automotive industry is focusing on battery electric vehicles as it contributes to the regulation of greenhouse gas (GHG) emissions. Even sustainable energy storage solutions are battery-based.
Northvolt has aggressively implemented its expansion strategy in Europe, with the goal of acquiring 40GWh of battery production capacity from five battery production plants upon completion of construction.
More than 40 battery makers have announced plans to build battery factories in Europe, including China's CATL and US battery maker Tesla's planned battery factory in Germany. With their Eastern European factories, South Korean battery producers LG Energy Solution and Samsung SDI will also have a large share of European battery production.
ACC has also announced the construction of gigafactories in Germany, France and Italy, and the company's plans will be funded by the EU-sponsored Project of Important Common European Interest (IPCEI).
Carmakers Mercedes-Benz AG and Stellantis AG, as well as French battery producer Saft, are shareholders in ACC and will share the investment in setting up a battery production plant.
