Finnish manufacturing firm Valmet Automotive has announced plans to expand its electric vehicle battery production plant in the southwest city of Salo.
The firm says that its EV battery division has contracts with three customers and that more contracts are in the pipeline.
Valmet Automotive's CEO Olaf Bongwald said that battery system production is the company's most significant growth area.
"We intend to become a key player both as a battery contract manufacturer and as a tier-one system supplier. The Salo battery plant plays an important role in our growth plans," Bongwald said in a statement issued Wednesday.
The company said the expansion at the city's IoT Campus would require doubling its workforce to more than 400 employees by the year 2022.
Valmet Automotive said that in coming years, sales of its battery and EV systems will likely reach or exceed sales of its vehicle manufacturing department.
