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Released February 13, 2024 | NEW DELHI
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Researched by Industrial Info Resources (Sugar Land, Texas)--With global sales of electric vehicles (EVs) soaring and witnessing a positive trend, it is clear that the era of sustainable transportation is accelerating. As the automotive industry transitions to EV manufacturing, demand for batteries and charging infrastructure also is on the rise. Gigafactories, a concept popularized in the late 2000s by Elon Musk, chief executive officer of Tesla Incorporated (NASDAQ:TSLA) (Austin, Texas), are designed to concentrate the production of batteries and components at one site.
With benefits like streamlined production, minimum environmental impact and reduced battery costs, gigafactories have made EVs more affordable and accessible for consumers.
In 2014, Tesla endorsed plans to build its first gigafactory. Since then, the term "gigafactory" has become synonymous with large-scale battery-manufacturing facilities, compared with the prior method of manufacturing batteries and other EV equipment in separate smaller-scale facilities. The concept of gigafactories has now been actively adopted by a number of car manufacturers to have their manufacturing and production processes all under one roof. A trend towards larger gigafactories is observed, with some expected to reach capacities of up to 100 gigawatt-hours, according to McKinsey.
Industrial Info is tracking 54 active capital-spending projects globally, worth US$39 billion, aimed at the construction and expansion of gigafactories. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the project reports.
These projects are concentrated in Europe and North America, with investments of US$27.21 billion and US$11.79 billion, respectively.
By country, the top three investment drivers are the U.S., U.K. and Norway, with a cumulative spending of more than US$24 billion.
The key players in the market are Italvolt SpA (Milano, Italy), Porsche Automobil Holding SE (Stuttgart, Germany), Tata Group (Mumbai, India) and Tesla, with a total investment of US$22.78 billion.
As the leading investor, Italvolt SpA is planning to construct and expand its battery gigafactory in Turin, Italy. It also plans to build a lithium-ion EV battery gigafactory in Imperial, California. Subscribers can read detailed reports on the Turin grassroot and expansion projects and click here for the U.S. project report.
Porsche Automobil Holding SE is working on its battery gigafactory manufacturing plants in Sagunto, Spain (see project report) and Salzgitter, Germany (see project report.)
Tesla is developing its lithium-ion and cathode battery plants while also expanding gigafactory buildings in Sparks, Nevada, and Austin, Texas. Five of these projects, worth US$961 million, already are under construction. Click here for a list of Tesla gigafactory projects.
About 65% of the projects are in the planning phase; 13% are being engineered; and 22% are under construction. A majority of the projects are expected to reach completion between March 2024 and June 2029.
Despite encountering challenges like scaling production and regulatory compliance, gigafactories hold promise for transforming battery production, advancing sustainable transportation and energy storage solutions. Their ability to meet demands of the emerging EV revolution remains a key test for their resilience.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
With benefits like streamlined production, minimum environmental impact and reduced battery costs, gigafactories have made EVs more affordable and accessible for consumers.
In 2014, Tesla endorsed plans to build its first gigafactory. Since then, the term "gigafactory" has become synonymous with large-scale battery-manufacturing facilities, compared with the prior method of manufacturing batteries and other EV equipment in separate smaller-scale facilities. The concept of gigafactories has now been actively adopted by a number of car manufacturers to have their manufacturing and production processes all under one roof. A trend towards larger gigafactories is observed, with some expected to reach capacities of up to 100 gigawatt-hours, according to McKinsey.
Industrial Info is tracking 54 active capital-spending projects globally, worth US$39 billion, aimed at the construction and expansion of gigafactories. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the project reports.
These projects are concentrated in Europe and North America, with investments of US$27.21 billion and US$11.79 billion, respectively.
By country, the top three investment drivers are the U.S., U.K. and Norway, with a cumulative spending of more than US$24 billion.
As the leading investor, Italvolt SpA is planning to construct and expand its battery gigafactory in Turin, Italy. It also plans to build a lithium-ion EV battery gigafactory in Imperial, California. Subscribers can read detailed reports on the Turin grassroot and expansion projects and click here for the U.S. project report.
Porsche Automobil Holding SE is working on its battery gigafactory manufacturing plants in Sagunto, Spain (see project report) and Salzgitter, Germany (see project report.)
Tesla is developing its lithium-ion and cathode battery plants while also expanding gigafactory buildings in Sparks, Nevada, and Austin, Texas. Five of these projects, worth US$961 million, already are under construction. Click here for a list of Tesla gigafactory projects.
About 65% of the projects are in the planning phase; 13% are being engineered; and 22% are under construction. A majority of the projects are expected to reach completion between March 2024 and June 2029.
Despite encountering challenges like scaling production and regulatory compliance, gigafactories hold promise for transforming battery production, advancing sustainable transportation and energy storage solutions. Their ability to meet demands of the emerging EV revolution remains a key test for their resilience.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
