Germany Will Be Home to Europe's Largest Battery Factory

BERLIN, October 24, 2012 /PRNewswire/ --

Europe's largest battery cell factory is under construction in the German state of Saxony. The Federal Government is optimistic that the production of high performance lithium based batteries could revolutionize the automotive industry. Germany Trade & Invest will have experts at this year's Batteries 2012 event in Nice from October 24 to 26, 2012 to inform visitors about the latest business opportunities in the industry.

"To realize the leading position Germany has taken in the field of electromobility, one must analyze the numbers. There are 1.72 million electronic cars in Europe, of which Germany claims 670,000. If R&D continues to increase in terms of funding and in the generation of intellectual capital, this number could potentially almost double by 2020." said Thomas Grigoleit , renewable energy expert at Germany Trade & Invest in Berlin.

However, there are existing challenges such as the initial purchase cost, battery life and charging infrastructure that need to be addressed. Germany is taking giant strides to solve these problems, but experts and capital from abroad will be urgently needed. Highly innovative research infrastructure and ambitious public-private partnerships make Germany a sound investment location.  

Germany also has the potential to become Europe's largest market for electric cars and the corresponding peripheral equipment. This is good news to both investors and the German labour force. The Federal Ministry of the Environment asserts that if Germany does succeed in joining forces to exploit the opportunity presented by electromobility, there will be a potential to create around 30,000 additional jobs over the period of 2020.

Germany Trade & Invest is the foreign trade and inward investment agency of the FederalRepublic of Germany. The organization advises foreign companies seeking to expand into the German market. It supports German companies that seek to enter foreign markets, with foreign trade information.Germany Trade & Invest

Andreas Bilfinger
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SOURCE Germany Trade and Invest