Eurocell is considering building its first European gigafactory in the Netherlands.
The company is holding rounds of discussions to finalize the deal. The gigafactory aims to “supply energy storage and emobility markets in the region.”
The project would require an investment of $800m rising to $2bn by 2028.
According to the company, it plans to construct its new factory in two phases. These factories are expected to reach full capacity as early as 2025.
During the first phase, it will produce battery cells targeting existing European customers. In the second phase, it plans to produce more than 40 million cells annually by 2025.
The company shared that it plans to help achieve the net zero ambitions of Netherlands and Europe.
Nick Clay, Chief Commercial Officer at Eurocell EMEA, commented, “With rapid expansion plans in Europe, Eurocell is encouraged by the positive engagement we have had with both the Dutch Government and NOM investment and development agency for the Northern Netherlands over the last few months.”