The Slovak cabinet has allocated €5 million for InoBat Auto, the company behind the research, development, and production of barriers for electric cars.
“As Slovakia produces the most cars per capita in the world, it is very important to have such production here,” said Finance Minister Ladislav Kamenický, as cited by the TASR newswire.
The company, the result of partnering the InoBat plant and the American company Wildcat Discovery, will first invest €100 million in building an R&D centre and a pilot production line in western Slovakia employing 150 people. The second phase will focus on the large-capacity production of batteries at the volume of 10 GWh annually. The total investment is estimated at €1 billion. The plant should be located in Slovakia, in a region with a high unemployment rate. The number of employees is estimated at 1,500 people.
“These are things that can help Slovakia maintain employment and economic growth," said Kamenický.Related articleRead more
The investment by InoBat Auto has potential to be a significant contribution for research in Slovakia, said Marián Boček, executive chairman at InoBat Auto, stressing that the Slovak economy is strongly interconnected with the automotive industry.
“So that Slovakia does not lose its competitive advantage, support of such an investment and unique project in the field of development of car batteries is strategically proper,” said Boček.
The project is a response to the call by the European Commission, which is pursuing technological independence and closing the gap in battery production for electric cars and energy storage in the EU, the Denník N daily points out. The EC estimates that to meet the needs of European e-car producers, 20 to 30 large battery factories will be necessary.
11. Feb 2020 at 14:12 | Compiled by Spectator staff