Next year, the Australian company Recharge Industries plans to launch a factory for the production of batteries. The uniqueness of this production is that it will not use components of Russian and Chinese origin.

Currently, China and Russia dominate the battery market. The new $210 million venture should put an end to this.

Recharge Industries founder David A. Collard said the Geelong plant will have a capacity of 2 GWh first. Subsequently, its capacity will be 30 GWh. The company has already concluded the first agreements regarding the sale of its products. In particular, India expressed its readiness to purchase it.

Experts note that the new initiative could be an unprecedented success and turn Australia into a “new energy Saudi Arabia.” This is explained by the fact that the country has all the necessary elements for production, the reserves of which will be enough for centuries.

Earlier, we said that the Swiss startup Morand invented the eTechnology battery, which can charge up to 80% within 72 seconds.