BAVARIA, GERMANY - The new project they have dubbed "Car Battery Re-Factory" will create 150 new jobs.

Fenecon, the German energy storage company has announced that they are planning the construction of an energy storage solution facility in Iggensbach, Bavaria.

According to the company, the facility will focus on building new storage solutions by recycling used EV batteries. The factory is scheduled to be finished in 2024 and will be partially funded through an EU incentive of €4.5 million ($4.7 million).

According to Fenecon, the new project they have dubbed "Car Battery Re-Factory" will create 150 new jobs. The solutions built in the new factory would function as "Full Packs", which means they would include a cooling system as well as a battery management system. According to the company, they are already collaborating with car companies like BMW, Volkswagen, Audi, Renault, and MAN to come up with a solution to prolong the life expectancy of EV batteries.

Source: BatteryNews.de