Italian start-up Italvolt Spa is planning to build a 70 GWh manufacturing facility for EV batteries at an as-yet-unspecified location in Italy.
The company said that it wants to invest around €4 billion in the new factory, which will have an initial capacity of 45 GWh.
Italvolt is currently seeking to identify a location for the factory, with due diligence and evaluation exercises already underway at several sites in Italy. “With its gigafactory, Italvolt wants to give an important response to the historic opportunity of green industrialization, which is involving all production sectors across the board, with a socio-economic impact that will represent a turning point for the global economy,” Italvolt CEO Lars Carlstrom stated.
The project's first phase is expected to be finalized by the end of 2024. Italian car design firm and coachbuilder Pininfarina will be responsible for the architectural design of the new factory, while Italian industrial automation company Comau will provide the production equipment and will be responsible for the setting up of an R&D laboratory.
“When built, the factory will be the largest of its kind in Europe, and the 12th largest worldwide,” Italvolt said.
In Europe, there are currently at least three similar gigafactories in various stages of development: One under construction by U.S. electric car maker Tesla in Berlin, Germany; another planned by France-based battery cell producer Verkor in Rodez, about 150km northeast of Toulouse, and Northvolt's plans for production at sites in Sweden and Germany.
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