SVOLT will not build a battery factory in Germany

“The automotive market is currently struggling with considerable fluctuations and challenges all over the world, mainly driven by the transformation to electric mobility,” says Kai-Uwe Wollenhaupt, President SVOLT Europe & Senior Vice President of SVOLT Energy Technology Company Ltd. “It has led to some drastic strategy adjustments for some car manufacturers.”

SVOLT announced in September 2022 that it would set up another cell production facility for the European market – with a capacity of 16 GWh. The company had taken over a plant in Lauchhammer, about 150 kilometres south of Berlin, where Vestas previously produced blades for wind turbines. Production was to start at the beginning of 2025. The press release does not mention how much the company invested in the site before cancelling its plans. However, it has already paid for conversion work on the existing buildings and the installation of the battery production systems.