dutch battery maker to invest $1.9 billion in china cell factory - lithium ion cell

The Dutch battery maker Lithium Werks BV, founded earlier this year, is investing.
6 billion euros ($1. 85 billion)
In a huge lithium-
With the surge in demand for batteries, China's ion battery factory.
Production capacity of the facility will reach 8 gigawatts
A few hours a year, or equivalent to the battery capacity of 160,000 cars.
The chairman of Kees Koolen said on the phone that it would be the company's second Chinese manufacturing base and should start production in early 2021.
The company will provide 20% of the cost of equity capital and raise the rest of the project financing from the Bank of China consortium.
"We came to China again because it acted faster than other countries and it made a decision soon," koollen said . ".
"We are also discussing with the European government, but they are just doing a lot of discussions.
"Batteries will play a key role in the energy industry to complement the growing share of intermittent renewable energy and become cleaner alternatives to gasoline and diesel engines commonly used in cars, buses and trucks around the world.
The deal is part of a broader partnership signed by the Netherlands and China on Tuesday.
Chinese Premier Li Keqiang and Dutch Prime Minister lute announced
A big deal at an event in The Hague.
Lithium Werks focuses on making batteries other than electric cars, betting that everything from forklifts to ships and mining equipment will also use electricity soon.
Koollen, who expects revenue to reach $1 billion by 2020, plans to operate 10 battery plants by 2025.
Come on, Tesla.
The small Dutch company makes big batteries. Founded early this year, the company combines startups with different capabilities across the battery manufacturing value chain.
The deal included a division of battery manufacturer A123 Systems LLC and Valence Technology Inc.
And Super B, they all bundle the battery in the battery pack.
Koollen expects two more deals to be completed by the end of this year, and a few more will be completed in 2019.