ElevenEs, the Lithium Iron Phosphate (LFP) cathode battery technology company, has announced the opening of ElevenEs new production site is located in Subotica, Serbia and will be the first industrial facility dedicated to LFP battery cell production in Europe. The manufacturing facility will specialisese in producing high-quality LFP prismatic cells for use across a variety of applications, including electric cars, buses, trucks, and energy storage systems. Produced without nickel nor cobalt, LFP offers increased sustainability, safety, and lower costs, as well as having three times the life of competing technologies.
Backed by EIT InnoEnergy ElevenEs new production site is located in Subotica, Serbia. The LFP cell market is expected to see significant growth as a leading battery chemistry in the coming years, seeing over nine-fold growth in global sales over the past two years alone. With Chinese manufacturers holding the majority of LFP production, expansion of the industry in Europe will be key in revolutionizing batteries for the EU market.
“The expansion of our R&D centre and opening of our first production facility in Serbia is a huge milestone for ElevenEs and the European battery cell market as a whole,” said Nemanja Mikac, CEO at ElevenEs. “LFP has proven its potential to transform the EV market recently and, according to McKinsey, is forecasted to be the number one battery cell chemistry utilized globally by the end of this decade. We’re proud of our contribution to reducing the global footprint starting with our battery cells’ local production.”
The opening of the manufacturing facility represents a significant step forward for ElevenEs. The industrial facility will expand to become the company’s megafactory in 2024, producing 500MWh. ElevenEs’s roadmap over the next five years includes operating two gigafactories at a combined capacity of 48GWh – equivalent to the energy needed for one million electric cars annually.