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June 21, 2021

Porsche invests in new EV battery JV

By Graeme Roberts

Porsche said today it was investing “a high double-digit million [Euro] amount in the new company Cellforce Group.

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Porsche and joint venture partner Customcells also today announced the launch of production of high-performance battery cells at the Weissach Development Centre.

“As a new subsidiary, the Cellforce Group will be instrumental in driving forward the research, development, production and sales of high-performance battery cells,” said Porsche chairman Oliver Blume.

“This joint venture allows us to position ourselves at the forefront of global competition in developing the most powerful battery cell and make it the link between the driving experience and sustainability. This is how we shape the future of the sports car.”

The new venture, in which Porsche has a majority stake of 83.75%, is based in Tuebingen. The university town is also on the shortlist for the battery factory site which will be located close to the R&D in Weissach and the automaker’s HQ in Stuttgart-Zuffenhausen.

The number of employees is expected to grow from the initial workforce of 13 provided jointly by both companies to 80 by 2025.

The Federal Republic of Germany and the state of Baden-Wuerttemberg are funding the project with around EUR60m.

“We founded Customcells with the aim of developing customer-specific battery cells for the most demanding of applications, and this is exactly what we can now realise. The goal for the planned production plant is to reach a minimum annual capacity of 100 MWh. This is equivalent to high performance batteries for 1,000 vehicles,” said Torge Thoennessen, CEO of Customcells.

The chemistry of the new high-performance cells relies on silicon as the anode material to significantly boost the power density compared to current series batteries. The battery can offer the same energy content with a smaller size and the new chemistry reduces the battery’s internal resistance, allowing it to absorb more energy during energy recuperation and improved fast charging. It is also better able to withstand high temperatures.

BASF is a cell development partner for the next generation of lithium-ion batteries and is exclusively providing high-energy HEDTM NCM cathode materials for high-performance cells that enable fast charging and high energy densities.

Its cathode materials factories in Harjavalta, Finland and Schwarzheide, Germany will be able to produce battery materials with a claimed industry-leading low carbon footprint from 2022.

Customcells develops special lithium-ion battery cells. At Itzehoe (Schleswig-Holstein) and Tuebingen (Baden-Württemberg), it develops and produces application-specific battery cells ranging from prototypes to small and medium series.

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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