Verkor
Assembly Line
🔋 French battery manufacturing startup Verkor secures €2B
Grenoble, France-based Verkor, a battery manufacturing startup, announced on Thursday that it has secured more than €2B in funding. The funding injection comprises a Series C round of €850M, €600M in bank financing support from the European Investment Bank (EIB), and approximately €650M in French government grants, pending final validation by the European Commission.
The Verkor Gigafactory will have an initial production capacity of 16 GWh/year. Located in the port of Dunkirk, the Gigafactory is expected to be operational by 2025 and will create around 1,200 direct jobs and 3,000 indirect jobs.