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Europe set to challenge Tesla with own battery-making gigafactories

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

The facility 130 kilometres south of Berlin highlights a push by both major carmakers and power companies into energy storage. The technology is crucial to drive the next gener…

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