EIT InnoEnergy, a European sustainable energy innovations supporter, invested in Serbian battery developer ElevenEs to hold up its plans to build a factory in Subotica. The company developed its own LFF technology for batteries for electric cars, buses, trucks, forklifts, other industrial vehicles and energy storage systems. Since October 2019 the company has been conducting research and development into lithium-ion batteries. It opened an advanced R&D centre with an international team of engineers and scientists to develop the battery technology for electric passenger and industrial vehicles and energy storage systems in Subotica.
The first phase of production should start by 2023. By this time, the ElevenEs plant will be able to produce LFP cells with a total estimated annual capacity of 300 MWh. The construction of a 100% renewable energy-powered 8 GWh plant will start in 2024 and will be later expanded to a capacity of 16 GWh.