InoBat Inks Declaration for EV Battery Gigafactory in Serbia

InoBat completed a detailed review of several European countries and selected the Republic of Serbia for setting up the gigafactory and associated value chains for the manufacturing and recycling of battery cells for electric vehicles and stationary energy storage.

The declaration of intent will see the establishment of the facility in Serbia and if finalised, relevant Serbian authorities will work with InoBat to secure all permits and licenses required for the sustainable construction and operation of the gigafactory. The Serbian government will provide financial and material support for its development.

Ary Naim, regional manager for Central and Southeast Europe of the International Finance Corporation said: “Serbia is well positioned to continue attracting manufacturing investment, and become a centrepiece for the e-mobility revolution in Europe, creating new jobs and opportunities in the economy of tomorrow for decades to come.

“An InoBat gigafactory in Serbia could serve as the anchor that will catalyse much more investment up and down regional manufacturing value chains.”

Marian Bocek, CEO of InoBat, added: “The Serbian government have been exceptional partners and I am incredibly grateful for their ongoing support. The agreement reflects our shared ambition for the future of green mobility and the importance of fostering sustainable growth models.

“Our pilot facility in Slovakia is near completion, and we have lined up the development of a new facility in the US and recently signed declarations of intent for the construction of a facility in Spain. I look forward to working alongside the Republic of Serbia as we progress towards a greener more sustainable future.”

The development represents further progress on InoBat’s plan to develop a global network of gigafactories based on its ‘cradle-to-cradle‘ circular value chain, which integrates chemistry research, cell development, battery production and material recycling in one location.

The initiative is supported by IFC (the International Finance Corporation) via its early-stage project development engagement with InoBat to establish a new EV battery factory in Central and Southeast Europe, signed in January of this year.