Taiwanese battery maker ProLogium Technology Co (輝能科技) picked France over other European nations to invest as much as 5.2 billion euros (US$5.7 billion) in a factory that would produce a new generation of cells for electric vehicles (EVs), people familiar with the matter said.
The solid-state battery start-up plans to make an announcement later this week, said the people, who asked not to be identified before the plan becomes official.
The plant would be in the port of Dunkirk in northern France, and operations would start by the end of 2026, assuming the company receives regulatory approval, the people said.
Photo courtesy of ProLogium Technology Co via CNA
When fully operational in 2031, the facility would be able to supply batteries for as many as 750,000 vehicles annually, a description of the project on the Web site of France’s public hearing office said.
A representative for ProLogium declined to comment on the plan.
French newspaper Les Echos reported earlier on the plant.
French President Emmanuel Macron is due to travel to Dunkirk tomorrow.
ProLogium evaluated a dozen countries, including Germany, the Netherlands, Poland and the UK, before choosing the French port for its first giant battery plant.
The facility is the fourth EV battery factory planned for France, as the nation and the EU are pushing to challenge Asian dominance of the sector.
China’s Envision Group (遠景集團) announced a 2 billion euros project at a Renault factory in Douai two years ago. French battery start-up Verkor is planning its own plant in Dunkirk, while Stellantis NV, Germany’s Mercedes-Benz Group AG and TotalEnergies SE are jointly building a plant in northern France.
ProLogium, founded in 2006, is one of a handful of companies touting advanced battery technology that is more powerful, durable, faster to charge and safer than the lithium-ion cells used in many EVs. While solid-state technology offers vast potential improvements that could accelerate EV adoption, it has yet to be produced at scale.
ProLogium last year signed a cooperation agreement to develop solid-state battery cells with Mercedes.
The German automaker and Vietnamese auto manufacturer VinFast have also invested in the start-up.
ProLogium is also considering raising fresh funding at a valuation of about US$2 billion to ramp up growth and investments, people familiar with the matter said.
The company is in talks with potential advisers to raise as much as US$300 million, the people said. The funds would be used for the company’s capital expenditure plans for next year, one of the people said.
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