Verkor secures more than €2 billion to launch high performance battery gigafactory in France and accelerate future sustainable mobility

Grenoble – 14 September 2023 – Verkor secures more than €2 billion in financing following the signing of a minimum of €850m Series C funding1, approval of European Investment Bank for €600m debt support and French subsidies for an amount around €650m, subject to final approval by the European Commission. This financing will accelerate: • the construction of Verkor’s first gigafactory, in Dunkirk, and the manufacture of high-performance low-carbon battery cells, • ongoing technological developments at the Verkor Innovation Centre (VIC) for new manufacturing technologies and new state-of-the-art product, • strategic investments across the battery value chain, thereby generating thousands of direct and indirect long-term jobs.