Taiwanese battery producer ProLogium Technology Co has shortlisted four European nations – France, Germany, Poland, and the United Kingdom – for $8 billion solid-state lithium battery factory to be constructed during the following ten years. Accuracy has been hired by ProLogium to select a location for the facility, which will have a capacity of 120-gigawatt hours (GWh) to supply electric cars (EVs) and employ thousands of people, according to the consulting firm.
The consulting group did not specify a timeline for ProLogium’s decision on the site of the plant. Solid-state batteries might be a game changer for EVs since they can store more energy, charge faster, and are safer than liquid lithium-ion batteries, accelerating the transition away from fossil-fuel-powered vehicles.
ProLogium raised $326 million in its most recent fundraising round, which included investments from Primavera Capital Group, SoftBank China Venture Capital, and others, last year. ProLogium and Mercedes-Benz are working together to create solid-state batteries, and the German premium manufacturer has invested in ProLogium.
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