SVOLT Energy Technology, which in 2018 became independent from Chinese carmaker Great Wall Motor, intends to build five lithium-ion battery plants by 2025.

According to the company's presentation, those plants will have a total battery capacity of 100 GWh within around seven years.

three in China with total output of 60 GWh (15 GWh, 15 GWh and 30 GWh)

one in Europe - 20 GWh

one in U.S. - 20 GWh

Investment in Europe could be around €2 billion ($2.24 billion).

"SVOLT plans to build a base in an as yet undecided European country, featuring a research centre and factories for battery materials, cells and modules with initial capacity of 20 GWh, its general manager, Yang told Reuters in an interview."