Latest news with #gigafactory
Reuters
19-06-2025
- Business
- Reuters
German firms to submit competing EU bids for AI gigafactory, newspaper reports
BERLIN, June 19 (Reuters) - Deutsche Telekom ( opens new tab, Ionos ( opens new tab and the Schwarz Group's IT subsidiary will submit competing applications to the EU for an AI gigafactory after the German firms could not agree on a common concept, the Tagesspiegel newspaper reported Thursday. Software giant SAP ( opens new tab will not participate, according to the newspaper. The German applicants could still join forces during the selection process for the data centres planned by the European Union, it said in the report.
Yahoo
19-06-2025
- Business
- Yahoo
German firms to submit competing EU bids for AI gigafactory, newspaper reports
BERLIN (Reuters) -Deutsche Telekom, Ionos and the Schwarz Group's IT subsidiary will submit competing applications to the EU for an AI gigafactory after the German firms could not agree on a common concept, the Tagesspiegel newspaper reported Thursday. Software giant SAP will not participate, according to the newspaper. The German applicants could still join forces during the selection process for the data centres planned by the European Union, it said in the report. (Writing by Miranda Murray, Editing by Friederike Heine) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
21-05-2025
- Automotive
- Reuters
Gotion to begin building Morocco gigafactory 'within days'
RABAT, May 21 (Reuters) - Gotion Power Morocco, a subsidiary of Sino-European electric vehicle battery maker Gotion High Tech, will begin building its gigafactory in the north African country "within days," the company's Morrocan head Khalid Qalam said on Wednesday. Gotion High Tech signed an investment deal with the Moroccan government in June last year to set up the first gigafactory in Africa near Kenitra, northwestern Morocco, for a total investment $6.5 billion. The company's investment, spurred by government incentives, is in line with Morocco's aim to expand and adapt its automotive sector. Qalam told an industry conference in Rabat the groundwork for the factory had been completed and the first production was expected in the third quarter of 2026. In a first phase, at a cost of $1.3 billion, the plant would have 20 gigawatt capacity, he said, adding the company had agreed with the Moroccan government to increase capacity to 40GW in a second phase. He did not give a timeline. In addition to batteries, the plant will also produce cathodes and anodes, with a view to exporting the bulk to Europe, he said. "We have already received orders from many European car manufacturers," he said. Morocco's geographic location close to Europe and its existing automotive industry make it attractive to Chinese EV battery makers. The country is is home to Stellantis ( opens new tab and Renault ( opens new tab vehicle production plants, and reported a 6.3% increase in automotive sector exports to a record 157 billion dirhams ($17 bln) in 2024, according to official figures.
