German Union 1 billion euros to build lithium battery factory challenges Tesla
Publish：Sino Energy Corporation Time：2017-08-10
On August 4th news, according to foreign media reports, the German company TerraE Joint Alliance Frankfurt 16 German companies, intends to build a lithium-ion battery factory, in the production of Tesla‘s Gigafactory challenge.
HolgerGritzka, chief executive of TerraE, a German company in Frankfurt, said it would choose one of the five candidate cities in Germany or nei***oring countries next month to build a 34000 trillion watt battery factory.
He said, the former Thyssen Krupp manager of the company to help set up the one composed of 17 German companies of the alliance, and won the government support for the project. The project will break ground in the fourth quarter of 2019 and reach full capacity production in 2028.
The battery factory is the latest sign of German industry, which is the world‘s fourth largest economy and is preparing for a new phase of the energy revolution. Lithium-ion batteries can help stabilize the intermittent flow of wind and solar energy in the power grid and are expected to power millions of plug - in cars.
Gritzka said: "in terms of process technology, we must be better than competitors, and continue to move forward."." He stressed that TerraE will rely on Germany in the manufacture of robots and automated production in the competitive edge to make money.
By 2021, the world‘s battery manufacturing capacity will more than double to 278000 trillion watts, up from 103000 trillion watts in the second quarter, according to Peng Boxin energy finance. Asian electronics manufacturers, including Korea LG Ltd and Samsung SDI, currently control the market.
Tesla will become the world‘s second largest battery maker once Tesla has completed its $5 billion, $35 billion super plant construction in Nevada, according to researchers in london.
The project received a subsidy of 5 million 200 thousand euros ($6 million 200 thousand) from subsidies from the German Ministry of education and research, and is expected to cost more than 1 billion euros before completion.
TerraE said Gritzka will focus on the production of fixed batteries, which aims to develop an emerging mobile, non automotive power and storage market, a bet that relies on the rapid demand for lithium storage over the next 10 years.
