It will be born in Veneto, a It’s raining a lot in the province of Padovathe first Italian gigafactory for the production of batteries for electric cars thanks to a joint venture signed between Energyan integrated energy storage systems company, listed on Euronext growth Milan e Pylontech Eua 100% subsidiary of Pylon Technologies (listed on the Shanghai Stock Exchange) and the world‘s first manufacturer of lithium batteries for stationary cyclic use.
The new company, called Pylon LiFeEU is based at the Energy plant and already by the end of this year will be able to start the production of Lfp batteries necessary for the storage of energy produced from renewable sources, in particular from photovoltaic panels. The business plan of the joint venture envisages the construction, in the initial phase, of a first site which could lead to a production capacity of 600-800 batteries per dayequal to 3-4 Megawatt hours of storage capacity.
Today in Europe about 15 Gigafactories are under construction which in 2025 will be able to supply cells to power 6 million electric cars. In Italy there have been announcements of four projects, but gThanks to this joint venture, Energy will not only get started first but it will be the only Italian company to build both the energy accumulation system and the storage batteries internally. These large “gig factories” according to the consultancy firm McKinsey between now and 2040 they could constitute a business worth 90 billion euros with the creation of around 250,000 jobs.
Safer supply chain
Having enough gigafactories in Europe should break European automakers’ dependence on suppliers in China. Furthermore, shortening the supply chain will protect the houses themselves from unforeseen events and from the very heavy effects on transport as in the Covid period.
In this sense come the words of Jinpeng “Geoffrey” Song, vice president of international business for Pylon Technologies. “It is an important step for Pylon Technologies – explains Jinpeng Song – to start localized production, as our partners, especially in Europe, are eager to have a safer and more stable supply chain”.
“We chose Veneto as a starting point – adds the manager – to which we are linked both by long-standing scientific knowledge. Relationship that is now being renewed with friendship with Energy”. “We believe in a bright future for the renewable energy industry in the European Union – concludes the vice-president – leveraging global knowledge and local resources.”
Also the CEO of Energy David Tinazzi, underlines the importance of the agreement. “The establishment of this joint venture with Pylontech – explains Tinazzi – is the right evolution of a fruitful long-term technical partnership in which shared human values have also played a fundamental role”
Energy and Pylon Technologies partner since ten years and both have focused on stationary cycle battery technology for energy storage, which mitigate the environmental impact and decarbonise the entire production process.
According to market data, China produces nearly 80% of batteries. Among the Community objectives is that of encouraging the production of components on the European territory, which represents the main purpose of the joint venture, which qualifies as a “friendshoring” operation, in which Italy and China actively collaborate, thanks to the investments of the Chinese partner in the Italian market.