26.8 C
Belgrade
20/07/2024
Mining News

Envision AESC initiates construction of EUR 1 billion LFP battery gigafactory in Spain

Envision AESC, a subsidiary of the Chinese green energy firm Envision Group specializing in electric vehicle batteries, has commenced construction on its lithium iron phosphate (LFP) battery gigafactory in Spain with an initial investment exceeding EUR 1 billion (USD 1.1 billion).

Located in western Navalmoral de la Mata, ground was broken on July 8, and the factory is slated to commence operations by 2026, as announced by Envision on the same day. The project is expected to generate approximately 900 jobs.

Supported by

The facility will prioritize the production and advancement of advanced LFP batteries, with Envision highlighting it as Spain’s first carbon-neutral gigafactory, part of the company’s broader Net Zero Industrial Park initiative.

Spanish Prime Minister Pedro Sanchez hailed the project as a triumph over industrial relocation and decline, acknowledging Envision’s contribution towards fostering “progress, wealth, and employment” in Spain.

However, it should be noted that this won’t be Europe’s inaugural LFP battery plant, following the Serbian company ElevenEs, which commenced operations in Subotica last April.

Envision AESC was originally established in 2007 as a joint venture between Nissan Motor and Tokin, subsequently acquired by Envision Group in 2018 and rebranded from Automotive Energy Supply Corporation in 2019. Beyond Spain, Envision operates two other battery plants in Sunderland and Douai.

The company boasts 13 production bases along with research, development, and engineering centers across China, Japan, the US, the UK, Spain, and France. Envision has forged partnerships with leading global automotive manufacturers such as Renault, Nissan, Toyota, and Mercedes-Benz.

Related posts

Canada Nickel unveils initial resource estimate for Deloro nickel sulphide project

David Lazarevic

Resouro Strategic Metals announces major resource estimate for Brazilian Tiros project, boosting market capitalization

David Lazarevic

Navoi Mining and Metallurgical Combine to invest $1 billion in 11 projects for 2024, boosting gold production in Uzbekistan

David Lazarevic
error: Content is protected !!