Lars Carlstrom, the Founder-CEO of battery cell manufacturer Italvolt and the Founder of battery technologies investor Britishvolt, announced today the launch of Statevolt, a new company planning to construct one of the largest EV battery plants in North America

The new California-based gigafactory, with an expected capex of $4 billion, is anticipated to have a battery production capacity of 54GW, serving around 650,000 electric vehicles per year.

Carlstrom said:

“The development of lithium-ion batteries is crucial for the U.S. to meet its goals to transition to Net Zero. Statevolt is proud to begin its journey to develop U.S. expertise and production of lithium-ion batteries, as we look to serve this critical market.”

To launch the facility, Statevolt has also signed a Letter of Intent (LOI) with lithium products and renewable energy provider Controlled Thermal Resources (CTR), under which CTR will deliver sustainable and locally produced lithium and geothermal power.

The investment comes as demand for EV battery capacity in North America is set to ramp rapidly over the next several years, as automotive companies plan to significantly transition their fleets. Automotive leaders GM, Ford and Stellantis have each announced significant investment plans in EV capacity, and the Biden administration signed an executive order last year mandating that zero-emissions vehicles make up half of tnew vehicle sales in the U.S. by 2030.

Rod Colwell, CEO of CTR, said:

“The extraordinary growth in electric vehicle adoption and the emerging demand for energy storage systems to provide clean power, highlights the urgent need to develop a strong and secure battery supply chain in the United States. CTR continues to develop its significant resource in response to this unprecendented demand, and we look forward to collaborating with Statevolt as we accelerate these efforts.”