The electric vehicle battery factory developed by French company Verkor in Dunkirk has entered its production testing phase, according to infrastructure fund Meridiam, one of the project’s major investors. The facility, a symbol of France’s reindustrialisation effort, is “nearly completed”, stated Thierry Déau, Chief Executive Officer of Meridiam, during a press exchange in Paris marking the fund’s 20th anniversary. Meridiam has invested €200mn in the gigafactory.
Commercial launch targeted for early 2026
Final mechanical and electrical connections of the equipment are scheduled for the coming weeks, according to earlier remarks from Verkor co-founder Benoît Lemaignan. Commercial production is expected to begin no later than early 2026. By 2028, the facility will have a production capacity of up to 16 GWh of lithium-ion cells per year, with 12 GWh allocated to Renault. This volume corresponds to energy storage sufficient to equip approximately 150,000 vehicles, notably including Alpine models from the French automaker.
A streamlined industrial model
As the European battery sector faces uncertainty, illustrated by the bankruptcy of Swedish manufacturer Northvolt, Thierry Déau highlighted the strategic differences between the two firms. Unlike Northvolt, which pursued full vertical integration including recycling, Verkor is focused solely on cell manufacturing. This narrowed scope provides greater operational and financial control, according to the Meridiam executive, who regards Renault as a stable industrial partner.
Meridiam expands global infrastructure presence
Meridiam raised €1.5bn in 2024 and invested nearly €4bn in diversified projects worldwide, €1bn more than in 2023. Notable transactions include a contract exceeding €5bn to build one of the largest seawater desalination plants in Jordan, as well as a motorway project in Atlanta, United States, of similar value. The fund is also engaged in electric vehicle charging infrastructure, particularly in Germany, reflecting a sustained strategy of geographic diversification.
