German news outlet Bild reports that BASF will build a battery factory in Brandenburg for 500 million euros ($555 million). The factory will center around producing cathodes, and the news comes four weeks after Tesla’s surprise for Germany.
Five German companies will profit from this battery factory, which had recently been approved for a €3.2 billion package by the European Commission. Christine Haupt, a BASF spokesperson, says that they want to produce cathode materials for 300,000 electric cars per year from primary products with their factory in Finland and that the executive board will decide on the German production site. “Social, environmental and economic factors play a role here.” Those three factors are vital for any economy and for any business to do well.
In the article, Tesla is recognized as a world market leader. Germany will surely see a major growth in the economy once these two plants are actually built and start producing.
The article also points out another advantage of Schwarzheide. The largest chemical plant in Brandenburg has around 3,000 workers and those workers are paid lower wages than in the West German BASF factories. Not only will BASF most likely pay higher wages, but it will bring competition to the job market and this will give workers more options and ways to grow.
For some previous BASF stories on CleanTechnica, see: