The French start-up Verkor announced Thursday that it had raised “more than 2 billion euros” to finance the installation, in Dunkirk, of a “gigafactory” of batteries, one of four planned in France while the Europe is trying to create an industrial sector for electric cars in the face of Asian competition.
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Verkor raised the record amount “ of at least 850 million euros » from private investors. This is the largest fundraising for a French start-up to date. Added to this is a public subsidy “ around 650 million euros » – subject to validation by the European Commission – as well as a loan of 600 million euros from the European Investment Bank.
Quoted in a company press release, President Emmanuel Macron “ congratulate » Verkor for this round table « historical ” Who ” sends a strong signal about our reindustrialization ambition “.
The operation, “ a very important step ”, values the start-up at “ more than a billion euros “, Benoit Lemaignan, co-founder and president of the company, told AFP. Founded in 2020, Verkor inaugurated its high-power battery pilot plant in Grenoble at the end of June and plans to open its factory in Dunkirk by 2025, with 1,200 direct jobs and an initial production of 16 gigawatt hours (GWh) per year.
Two million electric cars produced by 2030
With this operation, Verkor is closely monitored by the government. Established as one of the symbols of reindustrialization, the factory must help the French automobile industry to achieve the objective of two million electric cars produced in France in 2030, after long years of offshoring. Currently, the manufacturing of batteries and the refining of the materials they are made of are dominated by Asian groups.
Australian asset manager Macquarie Asset Management is the “ main investor “, “ with the support » from the French fund Meridiam, which invested 200 million euros. The Strategic Participation Fund (FSP), an alliance of seven large French insurance companies, also took a share. Several existing shareholders contributed again, notably the car manufacturer Renault, which had already committed to buying three-quarters of Verkor’s production.
The factory is one of four electric battery projects in France. Taiwanese manufacturer ProLogium has obtained a grant of 1.5 billion euros to install its first factory in Dunkirk, with an opening planned for 2026. One hundred kilometers south, in Douvrin – in the Nord department – Stellantis, TotalEnergies and Mercedes have established the first French battery factory, with their joint venture Automotive Cells Company (ACC). And Renault must open its own factory with the Chinese group AESC-Envision in 2024, also in the North, in Douai.
(with AFP)