Taiwan's ProLogium seeks European site for $8 billion battery plant

Taiwanese battery maker ProLogium Technology Co has shortlisted four European countries - France, Germany, Poland and the United Kingdom - for an $8 billion solid-state lithium battery plant, consulting firm Accuracy said on September 5.

ProLogium has appointed Accuracy to find a location for the plant, which should have a capacity of 120-gigawatt hours (GWh) to supply electric vehicles (EVs) and employ thousands of people, Reuters reports. 

The factory will be built over the next decade.

The consulting firm did not provide a deadline for ProLogium's decision on the plant's location.

Solid-state batteries could be a game changer for EVs as they should be able to store more energy, charge faster and offer greater safety than liquid lithium-ion batteries, helping accelerate the shift away from fossil fuel-powered cars.

Last year, ProLogium raised $326 million in its latest funding round that included investments from Primavera Capital Group, SoftBank China Venture Capital and others.

ProLogium and Mercedes-Benz are jointly developing solid-state batteries and the German premium carmaker has invested in the battery maker.