The solid-state battery maker has engaged financial and strategic consulting firm Accuracy for advising it on the location of the proposed battery plant in Europe, which is eventually planned to have an annual capacity target of 120GWh
ProLogium, a Taiwan-based solid-state battery (SSB) maker, has announced an investment of $8bn to establish its first overseas gigafactory, which will be located in Europe.
The Taiwanese firm said that the search for sites for its gigawatt-hour (GWh) battery factory is being undertaken in 13 European markets. France, the UK, Germany, the Netherlands, and Poland are among those that have been shortlisted as potential sites.
ProLogium will make the announced investment over the next decade towards the construction of the gigafactory in three phases. Upon completion of the third phase, the battery factory is expected to have an annual capacity target of 120GWh.
The Taiwanese firm has engaged Accuracy, a financial and strategic consulting firm, for advising it on the location of the proposed battery plant in Europe.
Accuracy partner and Asia infrastructure advisory business lead Zaheer Minhas said: “It is no exaggeration to say that ProLogium’s European production site will be transformative for the chosen region.
“Competition to secure the site is already fierce. That means the region ProLogium chooses will benefit from the creation of high quality, environmentally-friendly jobs for many years to come.”
According to Accuracy, its advice to the Taiwanese firm on the selection of the site will involve detailed analysis in two phases. The first phase aims at shortlisting more than 90 sites.
In the second phase, Accuracy will carry out a detailed financial analysis of all the 90 sites. These include sensitivity analysis for understanding the impact on profitability for all of the sites.
ProLogium CEO and chairman Vincent Yang said: “For most Asian companies actively going abroad, one of the keys to success is a solid foundation rooted in strategic planning.
“Site selection requires not only the right technology and solutions for that market, but also in-depth knowledge of local market demands and trends. That’s why we’ve chosen Accuracy as our advisor for one of our most important milestones.”
Last year, ProLogium raised $326m in a funding round for expanding its global electric vehicle (EV) battery production capacity.