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Who said that France was not at the forefront in the field of electric batteries? Certainly not Verkor and the two billion euros that the French company will raise, overall. The Grenoble startup is in fact in the process of completing this fundraising, via a funding round estimated at at least 850 million euros.
Funding that will allow it to build its Gigafactory, in Dunkirk (North). A significant investment. The latter will in fact generate 1,200 direct and 3,000 indirect jobs. Not bad for a company that has only been in existence for three years. The State is also subsidizing this project to the tune of 659 million euros (to be validated by the European Commission). Proof of the importance of this project, Emmanuel Macron himself spoke about it on Twitter:
“2 billion euros for the Verkor electric battery factory in Dunkirk. With the support of France 2030 and the European Union, this is a new record for a French startup. France is attracting, reindustrializing, decarbonizing its economy creates jobs!”
2 billion euros for the Verkor electric battery factory in Dunkirk.
With the support of France 2030 and the European Union, this is a new record for a French startup.
France attracts, reindustrializes, decarbonizes its economy, creates jobs!
— Emmanuel Macron (@EmmanuelMacron) September 14, 2023
Renault as main customer of the Verkor gigafactory
The goal of this Gigafactory is to produce the equivalent of 16 GWh of batteries. The fact remains that there are already not many available. 12 were in fact reserved by Renault last April to equip its future electric models.
Authorizations for the construction of this factory were obtained shortly after, in June. The start of the project is planned for the fall. Barely a year after its announcement. Verkor definitely does things at lightning speed.
Still, competition will be tough in the north of France and more specifically in Dunkirk. Another project, led by ProLogium (Taiwanese company) plans the creation of a 48 GWh electric battery mega-factory, as well as a research and development center. Enough to equip 500,000 to 750,000 vehicles per year, at full capacity, by 2030.
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To sum up
The French startup Verkor completes a global fundraising of two billion euros. This will allow it to build a gigafactory in Dunkirk. A subject of importance for the government and for Renault, which has already signed with the company.
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