Federal government – money for the Opel battery plant – economy

The State is funding the conversion of the Opel Kaiserslautern site to the tune of 437 million euros. Opel Stellantis parent company has created a joint venture with French battery maker Saft. From 2023, three blocks with a capacity of eight gigawatt hours each will be gradually built, explained Opel director Ralph Wangemann. Production will start in 2025. With this, battery cells for half a million vehicles could be manufactured each year. Federal Economy Minister Peter Altmaier (CDU) said the new battery cell factory would create around 2,000 jobs. The companies involved in the joint venture are investing a total of more than two billion euros.

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