For Nikkei Asia — Three manufacturers invest $3.2 billion in European factories

JENS KASTNER, Contributing writer

January 30, 2021 18:03 JST

HAMBURG, Germany — Two Chinese makers of electric vehicle batteries are set to break ground this year on $3.2 billion worth of production facilities in Germany to serve Europe’s expanding market for new-energy cars, following in the footsteps of industry leader Contemporary Amperex Technology Ltd.

SVOLT Energy Technology, a spinoff from Chinese automaker Great Wall Motor, plans to break ground on two factories, at a combined cost of about 2 billion euros ($2.42 billion), in the western state of Saarland by year-end.

Continue reading: https://asia.nikkei.com/Business/Automobiles/Chinese-battery-producers-plug-into-soaring-German-EV-sales