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Europe set to challenge Tesla with own battery-making gigafactories

Published Mon, May 22, 2017 · 09:50 PM

London

BATTERY-MAKING gigafactories are about to arrive in Europe, challenging a lead Tesla Inc is building at a plant in Nevada and opening the way for a quicker shift towards green power for both cars and utilities.

German Chancellor Angela Merkel on Monday is scheduled to break ground at a 500 million-euro (S$775.7 million) plant to assemble lithium-ion energy-storage units for Daimler AG, which produces Mercedes-Benz and Maybach luxury cars.

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Companies & Markets

Europe set to challenge Tesla with own battery-making gigafactories

Energy & Commodities

Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains

Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early

Anglo rejects BHP takeover bid as significantly undervalued

India rice prices at three-month low on shrinking demand

Gold prices set for weekly decline ahead of US inflation data

Pricey coffee is here to stay as hoarding, heat hit Vietnam supply

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