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Magnis cuts the ribbon on New York battery factory

Magnis cuts the ribbon on New York battery factory

Magnis Energy Technologies Ltd (ASX:MNS, OTCQX:MNSEF) chairman Frank Poullas joins Proactive in the virtual studio after the company kicked off commercial production at its lithium-ion battery plant in New York. With the milestone in tow, MNS is now on track to meet the burgeoning demand for lithium-ion batteries in North America. Ultimately, Poullas says the "major achievement" comes despite a challenging global environment and supply chain issues. Looking ahead, the company plans to increase the annual capacity of its battery plant to 38 gigawatt-hours by 2030.