PSA has a major order for SVOLT

According to insiders, Svolt Energy Technology Co. Ltd., the battery cell manufacturer that emerged from the Chinese car manufacturer Great Wall, has received a large order from the French PSA Group, reports. SVOLT will supply PSA with battery cells with a total capacity of more than 7 GWh.

The news site ChinaPEV reported the deal referring to persons familiar with the processes but so far an official confirmation has not yet been forthcoming. Apparently, the batteries concerned will not only be used in vehicles for the Chinese market but worldwide.

SVOLT already announced earlier this year that it had received an order from Europe for seven GWh. At that time, Audi, BMW or Daimler were named as possible customers in addition to PSA. If the information in the current report is correct, however, it is likely to be PSA.

Apart from the agreed cell chemistry – since SVOLT has already announced cobalt-free lithium-ion cells) – what is remains unclear is when the supply of battery cells will begin and in which plants the cells will be produced. SVOLT currently has a plant in Changzhou, the first stage of which will go into operation in autumn 2019 with a capacity of four GWh. Later the plant is to be expanded to 18 GWh.

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