Volkswagen's Elli unit to make large-scale stationary batteries

German carmaker Volkswagen AG (ETR:VOW) is stepping into the large-scale stationary storage systems segment with its Elli charging and energy brand, already lining up projects with a capacity of up to 350 MW and 700 MWh of storage.

Elli will develop, build and operate large-scale battery systems together with partners. The first storage project could be launched in Germany as early as 2025, Volkswagen said.

The automotive group sees significant potential in the European industrial battery market, where demand for storage solutions is expected to surge in the coming years. In Germany alone, experts predict a 100-fold growth, with the Fraunhofer Institute estimating a need for over 100 GWh of battery storage systems by 2030.

"We see high financial potential in this business area and the opportunity to develop Elli into a holistic energy provider in Europe," commented Elli's chief executive Giovanni Palazzo.

Elli was formed in 2018 to offer electric vehicle (EV) charging solutions and green power supply options for consumers and businesses across Europe.

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