More and more EV battery production is coming to Europe. And that’s electrifying Germany’s massive automotive sector.
2024 – that’s the year German carmaker Mercedes will begin mass-producing electric-vehicles and batteries in all its major plants in Germany, Romania and China. The move will mark the beginning of a “swift global scale-up of electric motors.”
Batteries are the heart of the electric vehicle revolution. Previously, Asian imports of lithium-ion batteries dominated the European market, but production is now shifting to Europe – and Germany in particular. That means big changes and chances.
The construction of Tesla’s Gigafactory just outside of Berlin has prompted a flood of inquiries for e-mobility-related investments in the eastern German state of Brandenburg.
Ever since Carl Friedrich Benz invented the world’s first internal-combustion engine automobile in 1885, the car industry has been integral to the German economy.
When the biggest manufacturer of e-vehicle batteries in the world announced it was building a EUR 1.8 billion plant in Thuringia, eastern Germany, it gave other foreign companies confidence to follow.
