IONWAY to produce cathode active material (CAM) for EVs in Poland
London, 9 October 2023, (Oilandgaspress) – The newly founded Brussels-based European EV battery materials producer IONWAY has chosen to build its first CAM production plant in Nysa, Poland, adjacent to Umicore’s existing CAM plant. The JV, backed by Umicore and Volkswagen Group-owned PowerCo, is scaling up the EU footprint in the e-mobility business with the ambition to grow its annual production capacity to 160 GWh by the end of the decade, corresponding to 2.2 million battery-electric vehicles, based on market developments. IONWAY will thus help the European Union achieve its Green Deal ambitions by accelerating the establishment of regional, sustainable, and transparent battery value chains.
The Polish government strongly supports the investment in Nysa – which is expected to create about 900 future-proof industry jobs in Nysa towards the end of the decade – and is offering IONWAY € 350 million in cash grants under the Temporary Crisis and Transition Framework[1] for a total investment of up to € 1.7 billion (€ 1.35 billion after grants) by the end of the decade.
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