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Chinese battery producers plug into soaring German EV sales

Three manufacturers to invest $5.3bn in European factories

SVOLT currently just operates a single battery factory in Changzhou, China.    © Reuters

HAMBURG, Germany -- Two Chinese makers of electric vehicle batteries are set to break ground this year on $3.2 billion worth of production facilities in Germany to serve Europe's expanding market for new-energy cars, following in the footsteps of industry leader Contemporary Amperex Technology Ltd.

SVOLT Energy Technology, a spinoff from Chinese automaker Great Wall Motor, plans to break ground on two factories, at a combined cost of about 2 billion euros ($2.42 billion), in the western state of Saarland by year-end.

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