According to the latest report on February 21st, battery manufacturer CALB will invest 2 billion euros (approximately Yuan 15.1684 billion) in Sines, Portugal to build a lithium battery factory aimed at providing high-performance energy storage batteries for the European electric vehicle industry.
LISBON, Jan 20 (Reuters) - Portugal's Lifthium Energy has been awarded a 180 million euro ($210 million) government grant to build a lithium refinery in the country's north for the fast-growing electric vehicle battery market. With 60,000 metric tons of reserves, Portugal is Europe's top lithium producer, supplying mainly the ceramics industry.
In the battery technology industry, Portugal has the potential for further growth in the future, especially in the field of lithium-ion batteries and energy storage. Portugal is one of the countries with the largest lithium reserves in Europe.
“Our factory will not only create new jobs but will also place Portugal at the forefront of the production of batteries for electric vehicles in Europe,” he highlights. According to CALB, “this strategic investment” aims to “reinforce its presence in the European market for electric vehicles (EV) and energy storage systems (BESS)”.
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