Taiwanese electric vehicle battery maker ProLogium Technology Co expects mass production at a new factory in France to start from 2027, and is also eyeing an initial public offering, the company’s chief executive officer said on Tuesday.
French President Emmanuel Macron last year announced ProLogium’s 5.2 billion euro (USD 5.67 billion) investment in a battery factory in the northern region of Dunkirk, adding to an emerging specialised cluster devoted to Europe’s electric car industry.
Speaking to reporters at the opening of a factory in northern Taiwan’s Taoyuan which will serve as a model for the French facility, ProLogium’s CEO Vincent Yang said that “if everything goes smoothly” then mass production should begin in France in 2027.
“Everyone in Dunkirk is continuing to work very hard,” he said.
“Going forward when it comes to raising capital, there are all sorts of ways of doing this and an IPO is absolutely an option. We are considering it, it’s in the planning process,” he added, without giving a time frame.
ProLogium has become the latest battery manufacturer to team up with Mercedes-Benz, as the German automaker works to make all of its vehicles all-electric by 2030 and catch up with EV leader Tesla Inc. Mercedes has invested in the battery maker, and they are jointly developing solid-state batteries.
Europe has been courting Taiwan for investment, especially from the tech sector, despite Europe’s lack of diplomatic ties with the island China that claims as its own.
TSMC, the world’s largest contract chipmaker, announced plans last year for its first European factory, which will be in Germany.
Franck Paris, the de facto French ambassador in Taiwan, said ProLogium had not chosen his country “for romantic reasons”, and the investment showed France had created the right environment.
France and Europe want to get more investment from Taiwanese companies, he added.
