Taiwan EV battery maker ProLogium eyes mass production in France in 2027

Solid

23/01/2024 09:35

TAOYUAN, Taiwan, Jan 23 (Reuters) - Taiwanese electric
vehicle battery maker ProLogium Technology Co expects mass
production at a new factory in France to start from 2027, and is
also eyeing an initial public offering, the company's chief
executive officer said on Tuesday.
    French President Emmanuel Macron last year announced
ProLogium's 5.2 billion euro ($5.67 billion) investment in a
battery factory in the northern region of Dunkirk, adding to an
emerging specialised cluster devoted to Europe's electric car
industry.
    Speaking to reporters at the opening of a factory in
northern Taiwan's Taoyuan which will serve as a model for the
French facility, ProLogium's CEO Vincent Yang said that "if
everything goes smoothly" then mass production should begin in
France in 2027.
    "Everyone in Dunkirk is continuing to work very hard," he
said.
    "Going forward when it comes to raising capital, there are
all sorts of ways of doing this and an IPO is absolutely an
option. We are considering it, it's in the planning process," he
added, without giving a time frame.
    ProLogium has become the latest battery manufacturer to team
up with Mercedes-Benz, as the German automaker works to make all
of its vehicles all-electric by 2030 and catch up with EV leader
Tesla Inc. Mercedes has invested in the battery maker, and they
are jointly developing solid-state batteries.
    Europe has been courting Taiwan for investment, especially
from the tech sector, despite Europe's lack of diplomatic ties
with the island China that claims as its own. 
    TSMC  2330.TW , the world's largest contract chipmaker,
announced plans last year for its first European factory, which
will be in Germany.
    Franck Paris, the de facto French ambassador in Taiwan, said
ProLogium had not chosen his country "for romantic reasons", and
the investment showed France had created the right environment.
    France and Europe want to get more investment from Taiwanese
companies, he added.
    ($1 = 0.9178 euros)

 (Reporting by Ben Blanchard; editing by Miral Fahmy)
 ((ben.blanchard@thomsonreuters.com;))