French electric vehicle battery start-up Verkor has raised more than 2 billion euros to build a factory and conduct research in northern France. According to the statement, investors such as Macquarie Asset Management, French Industrial Project Fund (SPI), Renault and EQT Risk Investment participated in the C round of financing. The funds also include approximately 650 million euros of state and local subsidies.

Benoit Lemaignan, CEO of Verkor, said the new factory, costing 1.5 billion euros, is located in Dunkirk port and will create 1,200 jobs. He revealed that the initial annual capacity of the factory is 16 GWh and is expected to be put into operation in 2025.