As per Reuters, Verkor's upcoming battery plant project has a few objectives, such as automating electrode production and a digital process for battery design. At the same time, experts will also look into improving the process to recover battery materials, recycling being a top priority for them.

Commissioner Didier Reynders said that "this €659 million measure enables France to support Verkor’s research and development project on innovative production processes of lithium-ion batteries while keeping distortions of competition limited."

Verkor also completed an 850 million euros investment round back in September, with some of the financers being Macquarie Asset Management and the Renault Group.

Regarding the French company's upcoming factory, it will have an annual production capacity of 16 GWh and building could start in 2025. By 2030, the plant could have its capacity increased to 50 GWh.