Italvolt signs deal with ABB to help develop Italy battery plant
- ByManjeet Singh | October 13, 2021
The startup Italvolt announced on Tuesday that it had selected Swiss engineering company ABB for early planning of its Italian factory.
Italvolt said in a statement that ABB will also provide energy management and production optimization solutions, as well as robots, automation and data management, as part of the agreement.
The company, founded and led by Swedish businessman Lars Carlstrom, has pledged to invest 4 billion euros ($4.6 billion) in a battery manufacturing facility in Scarmagno, near Turin, to meet Europe’s growing demand for lithium-ion batteries in the auto industry.
Upon completion, the facility will have a capacity of 45 Gwh, equivalent to around 500,000 electric vehicles a year, according to Italvolt. The first stage of the project is expected to be completed by 2024.
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