Battery maker Blue Solutions plans 2 billion euro gigafactory in France
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 28 2024
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Source: reuters
- Blue Solutions Gigafactory in France: Blue Solutions plans to build a gigafactory in eastern France costing about 2 billion euros to produce a new solid-state battery with a 20-minute charging time.
- Solid-State Batteries for Electric Vehicles: Solid-state batteries are considered the "holy grail" for electric vehicles due to longer driving ranges and shorter charging times compared to traditional lithium-ion packs.
- Partnerships and Agreements: Blue Solutions already produces solid-state batteries for Daimler electric buses and has signed deals with BMW. The company aims to have six joint development agreements by the end of 2024.
- Innovative Battery Design: The new smaller battery for cars aims to have a range of 1,000 km (621 miles) with energy density 30%-40% higher than top lithium-ion cells.
- Future Plans and Financing: Blue Solutions plans to start production in 2030 with a capacity of 25 GWh. The company is seeking partners for financing, expertise, and potential licensing of its technology for quicker market entry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
