continental eyes investment in solid-state batteries - li ion battery cell

Frankfurt, November 11 (Reuters)-
German car supplier Continental is considering investing in battery production to compete with Asia and the United States. S.
Manufacturer Chief Executive Elmar Degenhart said in an interview with trade weekly on Saturday.
"We can imagine going into the production of innovative batteries," he said . "
"This also applies to the production of batteries.
However, Degenhart says Conti will not invest in lithium-
Ion batteries currently in use, but the next generation of solid cells
National batteries that may be put into production in 2024 or 2025.
"We need to make a technological leap in energy density and cost," he said . ". “Such solid-
The state battery can be managed without a liquid electrolyte, so it is much less flammable.
Although European automakers assemble battery packs for electric vehicles, there are no important players in the area of batteries --
Now it is mainly the basic component of batteries made in Asia.
Japanese companies like Panasonic and NEC, LG and Samsung in South Korea, BYD and CATL in China, and automakers in the United States, all dominate the market. S.
Tesla manufacturers
Degenhart said he would seek a consortium to share the cost, which he estimated to be 3 billion euros ($3. 5 billion)
A factory that can supply about 500,000 electric cars a year.
Last month, the EU hosted executives from the automotive, chemical and engineering sectors to discuss developing battery manufacturing in the EU and said EU funds could support the establishment of such a consortium.
It makes sense to build three factories, one in Europe, one in the United States and one in Asia, to get close to customers in each region, Degenhart said.
He added that Germany will not be able to be a place due to the high electricity prices in Germany, noting that LG and Samsung are building smaller battery factories in Poland and Hungary, where electricity costs are 50% cheaper. ($1 = 0. 8574 euros)(
Report by Georgina Prodhan;
Edited by Ros Russell)