The company that announced the opening of the car battery factory in Ćuprija, InoBat, said that the Government of Serbia will provide it with 419 million euros in subsidies for the movement of the project, which is called “Lion”.
The Lion project received a package of subsidies from the Government of Serbia in the amount of 419 million euros.
As it is added, the factory will work on assembling means for storing electricity, (the so-called Energy Storage System, ESS), batteries for electric vehicles.
In addition, it added, there will be battery recycling facilities, in line with InoBat’s platform for the so-called circular development of the value chain.
“We are pleased to announce that Ćuprija is the chosen location for our giga factory in Serbia and the recycling project codenamed Lion, which has been under development for the last two years with the International Finance Corporation (IFC),” the statement added.
The Lion project will be InoBat’s second plant in Central and Eastern Europe, in addition to the plant that should be operational and engaged in the same activity in Voderadi in Slovakia.
The company also states that the factory planned for construction in that country is a so-called mini Giga plant, while the one planned in Serbia will be a Giga facility.