The Mise unlocks the first tranche of financing for Fib worth almost 506 million euro. There will also be recycling in the Caserta area. While waiting for the agreement for the Stellantis Gigafactory in Termoli to be put in black and white, the government has struck another blow for batteries in Italy. The move comes from the Ministry of Economic Development (Mise), which issued the decree granting the first tranche of funding to the company Fib, a subsidiary of Seri Industrial. The funds are intended for the Teverola 2 plant, which will be built in the province of Caserta on a total area of 265,000 square metres, 82,000 of which will be covered. Today's is the first EUR 417 million of the total investment, which amounts to almost EUR 506 million. The integration of the treasury will make its appearance in the coming years. Up to 8 GWh According to Fib's plans, the plant should be fully operational in the first half of 2024 and have a production capacity of 7.5-8 GWh of lithium-ion batteries for both the renewable and automotive sectors. As far as four-wheelers are concerned, Teverola 2 will focus mainly on commercial vehicles, electric buses and public transport in general. But that is not all. Inside the factory there will also be a line for recycling end-of-life accumulators. The plan is to recover around 50 tonnes per day of batteries that have reached the end of their first cycle. From Teverola to Termoli The Gigafactory will join Teverola 1, another FIB factory with a production capacity of 350 MWh. The project in Caserta is part of the so-called Ipcei (Important projects of common European interest). And then, when all the signatures are in place, Italy will also have the long-awaited Stellantis plant in Termoli.