TO RAMP up Europe's battery production, Anglo-Korean producer Eurocell announced yesterday it will build its first European gigafactory, potentially in the UK.

With an initial £600m investment, Eurocell's gigafactory will mass produce and exports its batteries by early next year.

The factory's location is yet to be decided, the company said, but it will be in one of its core markets - the UK, Spain or the Netherlands.

The manufacturer said location choice will be highly dependent on what kind of support and investment it can get from the three countries' governments.

Recardo Bruins, Eurocell's EMA chief executive, said: "With the right level of central engagement and support we are keen to take advantage of the rapidly growing European market as quickly as possible."

Eurocell is not the only battery manufacturer who has taken battery making into their hands. In January, Volkswagen and Bosch announced a joint partnership to provide battery systems across Volkswagen and European factories.

It comes as the government has recently increased its drive to get more electric vehicles on the road over the next decade.

(c) 2022 City A.M., source Newspaper