EV Battery Maker ProLogium Considers UK for $8 Billion Factory

(Bloomberg) -- Taiwanese battery maker ProLogium Technology Co. is considering the UK among the potential sites for an $8 billion factory that would build a promising but unproven new generation of cells for electric vehicles.

Most Read from Bloomberg

• Apple’s iPhone 14 Offers Camera Upgrades, Satellite Feature

• Queen Elizabeth’s Doctors Are Concerned for Her Health

• Texas Judge Says HIV Drug Mandate Violates Religious Freedom

• Russia Privately Warns of Deep and Prolonged Economic Damage

• India Is Running Out of Weapons to Deter China Due to Modi Order

The solid-state battery startup is evaluating 90 sites across countries including France, Germany, the Netherlands, Poland and the UK, it said in a statement. Locations will be evaluated based on availability of skilled labor, transport links and incentives being offered -- even proximity to customers.

Read more: Battery Developer ProLogium Says It May Go Public in 2022

A final decision is planned early next year, a Taiwan-based ProLogium spokesman said by phone. Other locations in the US, China and Southeast Asia are also being contemplated. The company has hired consulting firm Accuracy to help with the search.

The UK is pushing hard to attract battery makers as the auto industry phases out the internal combustion engine. The country’s car production has steadily declined over decades, and uncertainty about the future of Britain’s trading relationship with the European Union has added to the industry’s woes.

Related: UK Risks Car Collapse as Jaguar Looks Elsewhere for EV Batteries

Solid-state batteries promise reduced charging times, longer driving ranges and -- unlike conventional lithium-ion batteries -- no fire risk. While the technology offers vast potential improvements to accelerate EV adoption, it hasn’t yet been produced at scale. In January, ProLogium signed a cooperation agreement to develop solid-state battery cells with Mercedes-Benz Group AG, which also invested in the startup.

ProLogium has earmarked $8 billion for an overseas factory it will build in three phases over the course of a decade, with an ultimate capacity of 120 gigawatt hours.

Most Read from Bloomberg Businessweek

• The Republicans Have a Peter Thiel Problem

• What a Rocket Startup That Helped Create the ‘New Space’ Wave Leaves Behind

• Adam Neumann Is Back, This Time With a Crypto Angle

• How a Sparkling Water Company Built a Brand on Bruised Fruit

• Women Who Stay Single and Don’t Have Kids Are Getting Richer

©2022 Bloomberg L.P.