This is a «combat gigafactories», as companies from Europe, the US and Asia invest billions of euros to create new production units that will fuel the purchase of electric cars.
At the heart of this new investment is a large battery factory for electric vehicles, designed in northern Europe and will be one of the largest industrial projects of its kind. The facility is expected to have a production capacity of dozens of gigawatt-hour batteries annually, sufficient to meet the needs of hundreds of thousands of electric cars each year.
The plan envisages multi-billion-euro investments, while the plant is expected to create thousands of direct and indirect jobs in the area where it will be installed. Europe's strategy is clear: to reduce its dependence on Asian battery companies and gain greater control over the supply chain of electric cars. Already in recent years more than EUR 82 billion has been committed to gigafactories of batteries across the continent, with the aim of developing Europe into one of the world's largest battery producers by the end of the decade.
However, the progress towards this industrial transition is not without difficulty. The collapse of the Swedish Northvolt battery company in 2025, which until then was considered the major European response to Asian giants, showed how demanding the industry is. The company had raised billions in investments but was led to bankruptcy due to problems of production, delays and loss of major contracts.
Despite the crisis, plans for new production units did not stop. Instead, international investors continue to buy facilities and restore factories to operation. An American battery technology company has already acquired significant Northvolt assets and plans to restart production within the second half of 2026, attempting to exploit existing facilities and technical personnel.
At the same time, large groups of cars and batteries are looking for countries for new facilities to invest billions in production lines that will support the transition to electricity. For example, a new battery factory in Spain, a result of a large Chinese group working with a European car manufacturer, is estimated to cost over EUR 4 billion and start production towards the end of 2026.
The development of such industrial units is considered crucial for the future of the European car industry. With the ban on selling new cars with internal combustion engines from 2035 approaching, demand for batteries will be launched. That is why governments and companies are speeding up investments that will shape the new car industry map in Europe over the next few years.
Greece?
Within this major industrial turn that is under way in Europe, Greece cannot remain a mere spectator. This is a real opportunity to attract billions of euros investment that can boost the country's production, employment and eventually GDP. The large battery plants and units that support electric drive will be created anyway over the next few years. The question is whether any of these will also be settled in Greece. To do this requires a clear plan, a stable investment environment and substantial incentives from the State to international companies. If the country moves fast and organized, it can gain a piece from Europe's new industrial era. If not, the opportunity will pass before us and be lost. And this is an opportunity Greece will hardly find again.
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