Battery developer ElevenEs has opened an electric vehicle (EV) batteries factory in Subotica.
“The expansion of our research and development (R&D) centre and opening of our first production facility in Serbia is a huge milestone for ElevenEs and the European battery cell market,” the company’s CEO Nemanja Mikac said, as quoted in a press release on Monday.
ElevenEs has developed its own technology to produce lithium iron phosphate (LFP) batteries for EV and energy storage applications. Since October 2019, the Subotica-based company has been conducting research and development into LFP lithium-ion batteries, before opening an R&D lab in July 2021.
ElevenEs plans to put into operation two gigafactories with a combined capacity of 48GWh, which would be enough battery cells to power one million medium-sized electric cars each year.
The company will invest 550 million euros ($604 million) in the first phase of the factory’s development, the development manager of ElevenEs, Ana Perovic, said in October 2021.
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