Poland's battery sector pulls in investment
Poland has become a European leader in the production of lithium-ion batteries, with exports booming despite the pandemic.
With 61 battery-manufacturing plants, Poland is third in Europe after Germany, with 76, and Italy with 67, the Polish Investment and Trade Agency (PAIH) said on Friday.
"Despite the Covid-19 pandemic, the sector's sales were higher after the first six months of 2020 year on year," PAIH said. The value of battery exports reached EUR 2.9 billion in mid-2020.
"According to the central bank, this data is the main reason for the growth of Polish exports and, consequently, maintaining a current account surplus," the agency said. "Battery exports proved to be invaluable to the Polish economy in 2020."
"The Polish plant of the South Korean conglomerate LG has become the biggest lithium-ion battery plant in the world, with total production capacity exceeding 100 GWh," PAIH stressed.
Northvolt, a Swedish battery producer, announced on Friday it will invest PLN 750 million (USD 200 million) into manufacturing batteries, with production due to start in 2022 in Gdansk.
According to Polish government estimates, the European battery market will be worth EUR 250 billion by 2025. The EU has been promoting a strong European battery sector through relaxed public aid rules.
