Finance Investors
17:53 10 August 2020
Post by: WBJ

EBRD and German bank to co-finance construction of battery factory for electric cars in Konin

EBRD and German bank to co-finance construction of battery factory for electric cars in Konin
Source: EBRD

European Bank for Reconstruction and Development (EBRD) together with the German bank KfW IPEX-Bank will invest a total of €135 million in the construction of a factory in Konin. The plant is to produce batteries for electric cars.

The plant, whose construction is scheduled to be completed in 2022, is owned by the British chemical company Johnson Matthey.

The joint financing includes an €90 million loan from the EBRD and an €45 million loan from KfW IPEX-Bank (a branch of the German state-owned development bank based in Frankfurt).

In Konin, cathode materials for batteries for electric cars will be produced. The production capacity is to ensure the production of batteries for about 100,000 electric vehicles.

“We are very pleased with the financing of this groundbreaking project, which is a big step forward in making electric cars not only environmentally friendly, but also an increasingly competitive and attractive alternative to traditional vehicles. We also welcome the creation of new jobs and expect a further positive impact of the transfer of know-how related to this important investment,” Grzegorz Zieliński, EBRD Regional Director for Central Europe, said.

(300gospodarka


electric cars
ebrd
johnson matthey
konin
batteries
grzegorz zieliński
kfw ipex-bank

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