RockTech Lithium to invest 400 million Euro in EV component plant in Romania

The Romanian Government has signed a Memorandum of Understanding with the Canadian company RockTech Lithium for the construction of a factory for raw materials / components of climate technology (lithium hydroxide). The investment will be around 400 million Euro.

“Today I signed, on behalf of the Romanian Government, an important memorandum. Following the signing of this document, Romania will enter the map of major manufacturers of components for batteries needed for the automotive industry. Two refineries will be built in Europe (one in Germany, one in Romania) that will produce the lithium powder needed for batteries, and lithium will be brought from Canada, a country that extracts the raw material that is useful for this type of industry. Thus, Romania will benefit from an investment of about 400 million euros and will benefit from new jobs because, as a result of this financing, a horizontal industry will be developed with many other investments. Even in PNRR we have financing possibilities for those who want to invest in Romania in the battery production cycle,” said the Minister of Energy Virgil Popescu.