Details of Investment in LFP Lithium-Ion Battery Factory in Subotica – Plan Includes Investment of EUR 1 Billion and Phase-Based Construction Over Six Years

Source: eKapija Thursday, 28.10.2021. 13:04
(Photo: ElevenEs)
The pilot production activities at the complex for the production and recycling of batteries on 30 hectares in Subotica should start in 2023, whereas the beginning of commercial production is expected for 2024, and the envisaged capital investments have been estimated at close to EUR 1 billion.

The project is run by the startup ElevenEs, a part of the multinational company Al Pack Group from Subotica, which has been operating for years in the industry of packaging and processing of aluminum.

– ElevenEs is currently developing batteries which use modern technologies, and our aim is to start a serial production of batteries in slightly over a year – Ana Perovic, Development Manager, says for Preduzetnik, as announced by the Chamber of Commerce of Serbia.

The factory, Perovic says, will be built in several phases over the next six years. The facility for the production of electrodes, assembly and electro-forming of cells is to be built first, whereas the production will expand with time to include the production of other input materials, including cathode materials.

Capital investments in the production have been estimated at close to EUR 1 billion, whereas the investment by mid-2024 should amount to close to EUR 550 million.

– This doesn’t include the investment in the development itself, so the total amount will be even larger – adds Perovic and says:

– Following the completion of the development of the first line of products, a “mega factory” will be built, which will produce 300 MWh a year. After two years, the production will be expanded to 8 GWh, whereas, after 2028 and the finalization of the whole investment, an annual production of 16 GWh is expected.

In addition to the area that used to be taken up by the “29. novembar” factory, ElevenEs will expand its complex, so the total area will be 30 hectares, and the area on which facilities are planned amounts to 160,000 m2. A center for the recycling of battery production waste will be featured within the complex as well, Perovic said.

Let us remind that ElevenEs and EIT InnoEnergy have announced a strategic partnership for the construction of the first large factory of LFP lithium-ion batteries in Europe. The company announces jobs for up to 2,000 employees.

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