BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Metals

Blackstone Resources to invest $230 mil in German EV battery factory plan

Energy | Natural Gas | Natural Gas (European) | Oil | Metals | Steel | Shipping

Market Movers Europe, July 15-19: Oil and distillates markets watch out for geopolitical risks

Jet Fuel

Platts Jet Fuel

Commodities | Metals | Non-Ferrous

Battery Metals, 2nd Annual

Energy | Electric Power | Nuclear | Renewables

El gas y la energía nuclear impulsan la generación de Iberdrola en España en el segundo trimestre

Blackstone Resources to invest $230 mil in German EV battery factory plan

London — Switzerland-based Blackstone Resources said Monday it plans to invest Eur200 million ($230 million) in a German factory making batteries for electric vehicles.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The battery metals mining group aims to have an initial capacity of 100 million battery cells per year during the project's first phase.

Investment would come initially from own funds with the aim to garner further support from subsides provided by the EU's research and development funds and the German government, it said.

The company is looking at sites in the car manufacturing town of Eisenach in eastern Germany as one of the options. An alternative could be Braunschweig, near VW's headquarters in Lower Saxony.

Germany plans to support domestic battery production with Eur1 billion by 2021, economy minister Peter Altmaier said last year. Germany is pushing for an EU target of 30% of global battery production by 2030.

Germany's car industry plans to invest Eur40 billion by 2020 in electric mobility and other alternatives to internal combustion engine vehicles.

Chinese battery maker CATL said last summer it would build its first factory outside China in Germany, investing Eur240 million by 2022 in a "gigafactory" near Erfurt.

--Andreas Franke, andreas.franke@spglobal.com

--Edited by Pankti Mehta, newsdesk@spglobal.com