Europe's first LFP battery factory is unveiled
ElevenEs, a trailblazer in Lithium Iron Phosphate (LFP) cathode battery technology, has launched Europe's first industrial plant dedicated to producing LFP battery cells. This ground-breaking production facility, situated in Subotica, Serbia, is spearheaded by ElevenEs and supported by EIT InnoEnergy, and is revolutionising battery innovation in Europe.
The plant will specialise in creating high-quality LFP prismatic cells, which can be used in a variety of applications such as electric cars, buses, trucks, and energy storage systems. Since LFP cells are produced without nickel or cobalt, they are more sustainable, safer, and less expensive, with a lifespan that is three times longer than that of rival technologies. Furthermore, ElevenEs's EDGE battery cells, with their distinctive form and cell-to-pack capability, have a higher energy density on a pack-level compared to other LFP cell designs.
The LFP cell market is expected to grow significantly in the coming years, with global sales increasing by over nine times in the last two years alone. Since Chinese producers control the majority of LFP production, expanding the industry in Europe will be crucial in revolutionising batteries for the EU market.
Nemanja Mikac, CEO at ElevenEs said: “The expansion of our R&D center and opening of our first production facility in Serbia is a huge milestone for ElevenEs and the European battery cell market as a whole. LFP has proven its potential to transform the EV market recently and, according to McKinsey, is forecasted to be the number one battery cell chemistry utilised globally by the end of this decade. We’re proud of our contribution to reducing the global footprint starting with our battery cells’ local production.”
The opening of the manufacturing facility represents a significant step forward for ElevenEs. The industrial facility will expand to become the company’s Mega-Factory in 2024, producing 500MWh. ElevenEs’s roadmap over the next five years includes operating two Gigafactories at a combined capacity of 48GWh – equivalent to the energy needed for one million electric cars annually.