Finance Investors
21:02 16 October 2019
Post by: WBJ

Poland to become production hub for electric vehicle batteries

Poland to become production hub for electric vehicle batteries
source: MaxPixel

According to Dan Jin, a senior banker in the investment banking department of Haitong Bank in Warsaw, Poland today has a privileged position compared to other European countries when it comes to the location of battery factories for electric vehicles, which are mainly owned by Asian investors.

Korean LG Chem already has one such plant in Poland. In addition, in March this year, the Korean company SK Innovation announced its plans to build a plant producing separators used in EV batteries in Silesia. The value of the investment will be around €335 million. According to Jin, Poland has also begun to attract Chinese investors. Two Chinese factories (owned by Capchem and Guotai Huarong) are to be built in Godzikowice. What is more, in March 2019, Polish PCC Rokita and Chinese Shandong Shida Shenghua signed an agreement regarding their planned investment in the production and sale of organic carbonates (the raw material for the electrolyte used in the lithium-ion battery).

Jin believes that entering the EV battery sector in Poland gives an advantage at the geographical level, allows manufacturers to be close to suppliers, increases their share in the European market and makes it easier for them to become global.

(300gospodarka)

pcc rokita
lg chem
batteries
electric vehicle
dan jin
haitong bank
sk innovation
capchem
guotai huarong
chinese shandong shida shenghua

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