Battery manufacturer Italvolt has signed a memorandum of understanding for its Gigafactory in Scarmagno, Italy, where it will deliver 45 GWh production capacity for battery cells.
By June 2022, the final design is expected to be submitted, construction permits are expected by early 2023 and production will start in 2024.
The Italvolt project plans to start the production of lithium-ion batteries in the second half of 2024 and it expects to employ up to three thousand employees, on a total area of one million square meters. The Gigafactory of Scarmagno and Romano Canavese will place Piedmont and Italy among the most important players of the green industrialization and sustainable mobility, making Italy one of the largest producers of batteries for electric vehicles in Europe.
Italvolt aims to become one of the main suppliers of green batteries in Europe and by establishing Italy’s presence as a preeminent battery manufacturer. It says it will focus on the circular economy and the regeneration of natural resources. The memorandum of understanding represents a fundamental step toward meeting the timetable for the realization of its industrial plan.
“After the presentation of the preliminary project and the subsequent authorization obtained at the beginning of 2022, the signing of the Memorandum of Understanding confirms the progress of a project that is proceeding rapidly thanks to constant collaboration with all the local authorities. Respecting the shared timeline will lead us to become one of the first players in Europe to start production, thus ensuring Italvolt’s key role in the EV industry,” said Lars Carlstrom, Italvolt founder and CEO.