A Chinese battery maker carved out of the country’s biggest sport utility vehicle manufacturer, Great Wall Motor Co Ltd, on Tuesday said it is planning its first overseas manufacturing base in Europe. SVOLT Energy Technology Co Ltd general manager Yang Hongxin said, “We plan to have five production bases worldwide, including in the United States, but it will take time. The global plan is to reach a capacity of 100 GWh by 2025.”
The move comes as Asian battery makers deepen cooperation with automakers in Europe, where limited means of making the cells that power electric vehicles has raised concern of over-reliance on Asian manufacturers.
By Yilei Sun in Baoding, and Tom Daly and Norihiko Shirouzu in Beijing
Editing by Christopher Cushing