British start-up Volklec has announced plans to set up battery production at the UK Battery Industrialization Centre in Coventry. This is based on a licensing agreement with Chinese manufacturer Far East Battery (FEB). According to the company, Volklec initially intends to produce battery cells for electric vehicles and stationary energy storage systems. Production is scheduled to start at the end of 2025. In addition to the license, FEB will provide engineers and access to its supply chain. According to Volklec, this should support the ramp-up phase of production and reduce costs.
Financial requirements remain high
Volklec claims UK investor Frontive Group has pledged 20 million pounds for the production of the first cell types. It is reported that a further 80 million pounds are needed for the intended construction of a production line with an annual capacity of one gigawatt-hour. According to Volklec, discussions are currently being held with a number of car manufacturers regarding the use of the planned cells.
