Verkor Secures Historic €2 Billion Investment for Reindustrialization
Reindustrialization: record amount of 2 billion euros to finance the start-up Verkor.The French start-up Verkor, which specializes in the development of high-performance batteries for electric vehicles, has just raised a record amount of 2 billion euros in funding. This is the largest fundraising round ever carried out by a French start-up.
The funding round was led by the French investment company Eurazeo, with the participation of several other major investors, including Bpifrance, Groupe Renault, Schneider Electric, and TotalEnergies.
This fundraising round is a major boost for Verkor, which plans to use the funds to build its first battery gigafactory in France. The gigafactory is expected to be operational in 2025 and will have a production capacity of 16 GWh per year.
The construction of the gigafactory will create 2,000 jobs in France and will help to position the country as a leader in the development and production of high-performance batteries for electric vehicles.
Reindustrialization in France
The French government has made reindustrialization a top priority. In recent years, France has lost a significant number of manufacturing jobs to other countries, such as China and Eastern Europe. The French government is now working to bring back these jobs and to create new jobs in the manufacturing sector.
The French government’s reindustrialization strategy is focused on several key areas, including:
Investing in research and development: The French government is investing heavily in research and development in order to develop new technologies and products. This is essential for France to remain competitive in the global economy.
Supporting start-ups: The French government is supporting start-ups by providing them with access to funding and other resources. Start-ups are seen as a key driver of innovation and economic growth.
Attracting foreign investment: The French government is working to attract foreign investment to France. This is essential for France to create new jobs and to boost its economy.
The funding round for Verkor is a good example of the French government’s reindustrialization strategy in action. Verkor is a French start-up that is developing new technologies for high-performance batteries. The French government is supporting Verkor by providing it with access to funding and other resources. This investment will help Verkor to build its first battery gigafactory in France, which will create new jobs and help to position France as a leader in the development and production of high-performance batteries for electric vehicles.
The importance of batteries for electric vehicles
Batteries are essential for electric vehicles. They provide the power that allows electric vehicles to run. The performance of an electric vehicle’s battery is a key factor in its range, acceleration, and top speed.
High-performance batteries are batteries that have a high energy density, a high power density, and a long cycle life. Energy density is the amount of energy that a battery can store per unit mass. Power density is the amount of power that a battery can deliver per unit mass. Cycle life is the number of times that a battery can be charged and discharged before it loses its capacity.
High-performance batteries are essential for electric vehicles to be able to compete with gasoline-powered vehicles. Electric vehicles with high-performance batteries can have a longer range, faster acceleration, and higher top speed than gasoline-powered vehicles.
Verkor’s high-performance batteries
Verkor is developing high-performance batteries that are designed specifically for electric vehicles. Verkor’s batteries are based on solid-state technology. Solid-state batteries have several advantages over traditional lithium-ion batteries, including:
Higher energy density: Solid-state batteries can store more energy per unit mass than traditional lithium-ion batteries. This means that electric vehicles with solid-state batteries will have a longer range.
Higher power density: Solid-state batteries can deliver more power per unit mass than traditional lithium-ion batteries. This means that electric vehicles with solid-state batteries will have faster acceleration and higher top speeds.
Longer cycle life: Solid-state batteries have a longer cycle life than traditional lithium-ion batteries. This means that electric vehicles with solid-state batteries will have a longer lifespan.
Conclusion
Verkor is a French start-up that is developing high-performance batteries for electric vehicles. Verkor recently raised a record amount of 2 billion euros in funding. This funding will help Verkor to build its first battery gigafactory in France, which will create new jobs and help to position France as a leader in the development and production of high-performance batteries for electric vehicles.