Page 11 - bne_newspaper_August_02_2019

Central Europe
August 2, 2019 www.intellinews.com I Page 11
Slovakia to expect
a €100mn investment into electric car battery production line by 2020
IntelliNews Pro
Slovak R&D and battery production company InoBat signed a contract with US energy tech firm WildCat Discovery Technologies to develop and construct a production line for batteries for the automotive industry, as a reaction to the European Commission's call which set the goal of achieving technological independence and improving lagging car battery production in Europe, InoBat’s co-founder and executive director Marian Bocek and WildCat Discovery Technologies president Mark Gresser said at a news conference, daily E15.cz reported on July 26.
The production line should cost €100mn and its construction should start in the 2Q20. A launch of a battery production is planned by the end of 2021, with around 1,500 batteries to be manufactured annually at first. The plan is to achieve output of 150,000 batteries eventually.
“The patented technology of Wildcat has a potential to implement an electric car battery
revolution across Europe,” said Bocek, as quoted by the E15.
“We’re pleased that Wildcat’s breakthrough research technology has found a place in Central and Eastern Europe thanks to this strategic co-operation. In co-operation with InoBat and
in fact with the entire region, we’ll be able to maintain top place in new battery development ... We’ll guarantee technological relevance, not to mention the creation of new jobs over the next few decades,” commented Gresser, the Slovak News Agency cited.
“The European Investment Bank has been developing close co-operation with the European Commission in supporting the development of the EU’s battery industry. It’s important to bring the best global technologies to Europe and improve them in line with EU standards,” said European Investment Bank vice-president Vazil Hudak at
a conference.