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Porsche, Customcells form JV to produce high-performance battery cells

Christian Fernsby |
Porsche is setting up a joint venture (JV) with battery cell developer Customcells for the production of high-performance battery cells, the companies announced on Monday.

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Volkswagen subsidiary Porsche would invest a "high double-digit million amount" in the new JV Cellforce Group GmbH, in which it would hold a majority stake of 83.75 percent.

"The battery cell is the combustion chamber of the future," said Oliver Blume, chairman of Porsche's Executive Board. As a new Porsche subsidiary, the "Cellforce Group will be instrumental in driving forward the research, development, production and sale of high-performance battery cells."

The JV would be based in the German city of Tuebingen. The city is also on the shortlist for the location of the new battery factory, which should be close to the development center of Customcells and the headquarters of Porsche.

The German government and the state of Baden-Wuerttemberg would fund the battery cell project with around 60 million euros (71.5 million U.S. dollars), according to the statement.

"We founded Customcells with the aim of developing customer-specific battery cells for the most demanding of applications, and this is exactly what we can now realize together with Porsche," said Torge Thoennessen, chief executive officer (CEO) of Customcells.

The goal for the planned production plant is to reach a minimum annual capacity of 100 megawatt hours (MWh), which is equivalent to high-performance batteries for 1,000 vehicles, according to Thoennessen.

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