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Slovakia's InoBat eyes electric vehicle battery plant in Serbia

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LONDON : Slovakian battery maker InoBat said on Monday it has signed declarations of intent with the Serbian government to build an electric vehicle (EV) battery factory in the Balkan country with a capacity of up to 32 gigawatt hours (GWh).The plant would open with an initial capacity of 4 GWh in 2025.

LONDON : Slovakian battery maker InoBat said on Monday it has signed declarations of intent with the Serbian government to build an electric vehicle battery factory in the Balkan country with a capacity of up to 32 gigawatt hours .The Serbian government has agreed to provide funding of up to 419 million euros including grants and tax incentives to support the project, InoBat said.InoBat has said it wants to build a gigafactory in western Europe and one in eastern Europe.

Some European battery startups have struggled to raise billions for huge gigafactories, while others like InoBat are focused on expanding slowly as they land customers contracts.

 

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