Blackstone Resources has created Blackstone Research GmbH, based in Erfurt, Germany.
This newly created firm will be wholly owned by Blackstone and will provide a platform for the company to carry out further research and allow Blackstone to establish a substantial battery-production project in Germany. The aim is to manufacture the next generation of electric-vehicle batteries, close to where German auto manufacturers are based.
Approximately €200 million ($229 million) will be invested in this new project, initially from Blackstone's own funds with the aim to garner further support from subsides provided by the E.U.’s research and development funds, and the German government at both a state and local level.
The company aims to have an initial capacity of 100 million battery cells per year, which is the equivalent of 25,000 to 100,000 electric-vehicle batteries, during the project's first phase. Further phases will increase the production substantially.
Blackstone is currently looking at the optimal site for its battery manufacturing facilities. One location being considered could in the town of Eisenach, which sits 50 kilometers to the west of Erfurt. This would place the facility in close proximity to car manufacturer Opel and other Chinese-owned battery manufacturers.
An alternative location could be Braunschweig in Lower Saxony, Germany. A facility in this region would place it close to car manufacturer Volkswagen, which is set to invest heavily in battery production and R&D. The German government also has announced plans to potentially base one of two €1 billion ($1.15 billion) battery production facilities in this region, which would be supported by a consortium of privately owned companies. The aim of the initiative would be to help produce all of Europe’s electric vehicle batteries by 2030.
