With an investment in a new plant in central Poland, two leading European banks are set to promote the country’s electric car industry.

The plant is to be located in Konin, run by sustainable technologies group Johnson Mat-they, and supported by a €45 million loan from KfW IPEX-Bank and a €90 million loan from the European Bank for Reconstruction and Development.
According to representatives from Johnson Matthey, the Konin factory will produce cath-ode materials, a major component in electric car batteries. The plant will also become the world’s first production site for the company’s new eLNO® line, which is comprised of ultra-high energy density cathode battery materials. Reports indicate that these new ma-terials should drastically improve lithium ion batteries' performance and ultimately pro-mote the usage of electric cars in the region.
 
 The facility's production capacity will be roughly 10,000 tonnes per year, enough to outfit some 100,000 fully electric vehicles. The site is expected to start production in 2022, with construction starting earlier this year. It is also worth noting that Johnson Matthey is committed to using an energy-efficient production method, relying on automation tech-nology and electricity from renewable sources. The company also hopes to reduce emis-sions from battery production, ultimately minimizing the industry's environmental im-pact.