EU invests €350m in first domestic battery gigafactory

Energy World | Jul 31, 2020 at 8:44 AM
  • The European Investment Bank issued a €350 million loan on Thursday (30 July) to a Swedish company that hopes to corner a significant share of the global battery market by building the greenest power packs available.
  • If all the investments come to fruition, Europe’s production capacity will more than double.
  • The factory will have an initial annual production capacity of 16 gigawatt-hours.