German company Terra E is getting ready to announce the location of a new lithium-ion battery plant that will rival the output of Tesla’s Gigafactory.
The company will choose between five candidate sites in Germany or a neighboring country next month to build its 34 gigawatt-hour battery factory, according to Terra E’s CEO Holger Gritzka who spoke to Bloomberg.
The project, which has lined up no less than 17 partners and has won the support of the German government, is set to break ground in late 2019 and reach full capacity in 2028.
The new battery factory is the latest indication of the German industry’s preparation for a new age in the energy revolution. Lithium-ion battery packs can be used not only in plug-in hybrid cars but also on electricity networks where they can help stabilize intermittent flows of wind and solar power.
Battery-making capacity is set to more than double by 2021 globally, with Tesla to become the world’s second largest battery maker, once the 35 gigawatt-hour Gigafactory in Nevada is completed.
Terra E’s battery factory will focus more on batteries for stationary units, according to Gritzka as they aim to tap an emerging market for mobile and non-automotive applications.
Note: Tesla Gigafactory pictured
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