The European Union plans to complete with China for Battery production. 80% of Lithium Ion battery manufacturing is currently done in China. EU's decision to push for Battery Manufacturing in Europe is to reduce it's reliance on battery imports as it strives to achieve tight automobile electrification timelines. EUs aim is to be self sufficient with Battery manufacturing by 2025.
Italvolt said in a statement on Monday that the planned facility, a 300.000 m2 gigafactory is expected to employ 4,000 people, and that the first stage of the project will be completed in 2024. When completed the Gigafactory is expected to be 12th largest footprint in the world.