Opel battery Cell Plant to Get $500 Million German Govt Grant: Report

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  • For Opel’s Kaiserslautern plant, 51 million euros will come from regional funds from the state of Rheinland-Pfalz, according to the ministry statement.
  • The funds come on top of 2 billion euros invested in the project by companies involved in the joint venture – known as the “Automotive Cell Company” – Opel, its owner Stellantis and French battery maker Saft

As per a report by Reuters., Opel will receive a 437 million euro ($518 million) government grant for its battery cell factory in Kaiserslautern, Germany’s economy ministry said,as part of a wider European initiative to create a homegrown battery industry. The report added that themarket for batteries destined for electric vehicles (EV) is dominated by Asian manufacturers but the European Union, and Germany in particular, are keen to create European battery giants as the transition to cleaner transport gathers pace.

For Opel’s Kaiserslautern plant, 51 million euros will come from regional funds from the state of Rheinland-Pfalz, according to the ministry statement. The rest will come through federal offers. The funds come on top of 2 billion euros invested in the project by companies involved in the joint venture – known as the “Automotive Cell Company” – Opel, its owner Stellantis and French battery maker Saft.

The 24 gigawatt/hour (GWh) capacity factory, plans for which were first announced in January 2020, is expected to produce battery cells for about half a million EVs per year, with production scheduled to start in 2025.

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