Will a new battery factory be built in Latvia?
The Swedish company Anodox Energy Systems wants to build two factories in Latvia to produce batteries for electric vehicles. According to Latvia’s Ministry of Economy, a plant for the assembly of battery packs will be built first in the port of Riga. The second plant, which will focus on cell production, is to follow shortly afterwards.
Are electric vehicle batteries coming to Latvia?
Swedish tech company Anodox Energy Systems has announced plans to produce electric vehicle batteries in Latvia, with the first factory in the Port of Riga expected to be operational by December 2022. A second factory for rapidly growing LFP cell technology will be established soon after.
Why did anodox energy systems open a factory in Riga?
"We are very glad that Anodox Energy Systems decided to open factories in Riga. This will bring investment, jobs, and income to the city as well as assess the attractiveness of opportunities that our city offers by ensuring that Riga is competitive in attracting new high-growth companies.
How much will Riga invest in LFP cell technology?
A second factory for rapidly growing LFP cell technology will be established soon after. A total of €50 million will be invested and up to 300 new jobs will be created. This announcement aligns with Riga’s effort to establish Latvia as a European hub in the global automotive value chain.
How much money will anodox invest in Riga?
A total of 50 million euros will be invested and up to 300 new jobs created, according to the Ministry of Economy. The factory in Riga is to go into operation by December 2022. In the first phase, Anodox wants to produce high-quality battery packs for electric cars and light commercial vehicles in the automated factory.
Where will the battery production cycle be completed?
“This means that the battery production cycle will be completed in Latvia, from raw material to complete system. From Riga, the finished products will be delivered to customers in Scandinavia, Germany and the rest of Europe. A truly strong demonstration of our commitment to bring Latvia to the forefront of automotive technology.”
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