Battery maker Blue Solutions plans 2 billion euro gigafactory in France
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 28 2024
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Should l Buy ?
Source: reuters
- Blue Solutions Gigafactory in France: Blue Solutions plans to build a gigafactory in eastern France costing about 2 billion euros to produce a new solid-state battery with a 20-minute charging time.
- Solid-State Batteries for Electric Vehicles: Solid-state batteries are considered the "holy grail" for electric vehicles due to longer driving ranges and shorter charging times compared to traditional lithium-ion packs.
- Partnerships and Agreements: Blue Solutions already produces solid-state batteries for Daimler electric buses and has signed deals with BMW. The company aims to have six joint development agreements by the end of 2024.
- Innovative Battery Design: The new smaller battery for cars aims to have a range of 1,000 km (621 miles) with energy density 30%-40% higher than top lithium-ion cells.
- Future Plans and Financing: Blue Solutions plans to start production in 2030 with a capacity of 25 GWh. The company is seeking partners for financing, expertise, and potential licensing of its technology for quicker market entry.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
