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Serbia’s ElevenEs to build 80 mln euro battery plant - report

Jul 9, 2024, 1:32:48 PMArticle by Valentina Bajic
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July 9 (SeeNews) - Serbian battery developer ElevenEs plans to start construction by the end of the year on an 80 million euro ($86.6 million) mega factory for the production of Lithium Iron Phosphate (LFP) batteries in Subotica, northern Serbia, local media reported.

Serbia’s ElevenEs to build 80 mln euro battery plant - report
Source: Serbian Chamber of Commerce

The plan is to have the mega factory operating as early as next year, which would be the first facility of this type in the region, ElevenEs CEO Nemanja Mikac told local daily Dnevnik on Monday.

The mega factory aims to achieve an energy storage capacity of 1,000 megawatt-hours (MWh) annually, Mikac was cited as saying.

"Everything we do is made for mass production from 2026 onwards, and we expect a real boom from 2027 to 2030," Mikac concluded.

ElevenEs already operates an LFP battery factory in Subotica. It is currently in the pilot phase of production where it sends samples to car, bus, and truck manufacturers.

(1 euro = $1.08)

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