Italvolt to build first Italian battery gigafactory

Startup Italvolt will build the first lithium-ion battery gigafactory in Italy with an initial capacity of 45 GWh, it announced on Monday February 15.

The initial phase of the project is due to be completed by spring 2024 and the investment required to fund the project is €4 billion ($4.85 billion), it said.

The initial 45 GWh capacity could subsequently be expanded to reach up to 70 GWh.

The company is currently in the process of identifying the site that will host the plant.

“Our goal is to secure the future of the automotive industry and ensure that the supply chain is as green as possible, from start to finish. The socioeconomic impact that the new green industrialization brings with it will represent a turning point for the world,” Italvolt chief executive officer Lars Calstrom – who is also founder and shareholder of British battery start-up Britishvolt – said.

Lithium-ion batteries are used to power hybrid and electric vehicles, as well as mass energy storage systems and consumer electronics.

Sales of lithium-ion batteries are expected to increase sharply in the coming years while Europe and other regions move toward a low-carbon future.

Fastmarkets’ weekly price assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot price ddp Europe and US was $8.50-10 per kg on Thursday February 11, up from $7.50-8.50 per kg at the end of last year but down from $10-11 per kg a year ago.

What to read next
Fastmarkets has corrected its MB-STE-0034 steel domestic plate 8-40mm, exw Northern Europe and MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe assessments, which were published incorrectly on Wednesday March 27.
The result of Albemarle’s spodumene concentrate digital bidding event on Tuesday March 26 was 9,372 yuan ($1,230) per tonne on an ex-works China basis, according to sources close to the matter
Fastmarkets is inviting feedback from the industry on the pricing methodologies for its steel hot-rolled coil index domestic, exw Northern Europe, €/tonne (MB-STE-0028) and steel hot-rolled coil index, fob mill US Midwest, $/cwt (MB-STE-0184) as part of its annual methodology review process.
China’s graphite exports continued to fall in the first two months of 2024 after the implementation of the export controls on certain graphite-related products on December 1, 2023
Producing battery-grade manganese sulfate in China is “logical” even for non-Chinese companies, due to the country’s strong demand and cost competitiveness, according to the chief executive officer of emerging Australia-headquartered producer Firebird Metals
The project, which powers the world's largest alumina refinery outside China, Alunorte, not only marks a significant leap towards sustainability but also showcases Norsk Hydro's commitment to reducing carbon emissions