Battery gigafactories hit Europe

|By:, SA News Editor

Battery-making gigafactories are about to arrive in Europe, challenging a lead Tesla (NASDAQ:TSLA) is building at a plant in Nevada and opening the way for a quicker green shift for both cars and utilities.

Germany's Angela Merkel is scheduled to break ground today at a €500M plant to assemble lithium-ion energy-storage units for Daimler (OTCPK:DDAIF), while large-scale factories are also planned for Sweden, Hungary and Poland.