A joint venture between French nuclear energy company Orano and Chinese battery materials firm Xiamen Tungsten New Energy Technology (XTC) has officially launched, with French Economy Minister Roland Lescure attending the groundbreaking ceremony on May 29. Lescure called the facility “a critical link in battery technology research and innovation,” and said the partnership would demonstrate that France, Europe, and China “can work together in a mutually beneficial way — not through destructive competition, but through cooperation.”
The plant, operating under the name Neomat CAM, is located in Dunkirk in northern France and targets the European electric vehicle market, with an annual production capacity equivalent to 500,000 EVs. It is expected to begin operations by the end of 2028.
Ownership stakes have shifted since earlier reporting. A July 2025 account indicated XTC held a 49 percent stake after contributing €103 million (US$ 112 million); however, more recent AFP reporting shows Orano now holds 49 percent while XTC has taken a 51 percent majority controlling interest.
Total project investment stands at €500 million (US$ 545 million), with roughly one quarter funded through France’s green industry tax credit program (C3IV). The project also includes a dedicated research and development center in Dunkirk, set to open alongside the factory. During construction, the site is expected to employ nearly 400 workers, with 400 permanent jobs to follow upon launch — 90% of which will be filled locally, according to Orano.
The Dunkirk site sits at the heart of France’s so-called “Battery Valley,” where all of the country’s major battery manufacturers are based in the Hauts-de-France region, including ACC, AESC, Verkor, and ProLogium. If market conditions allow, Neomat CAM aims to double its capacity to 80,000 tons annually by 2035 — enough for one million vehicles and roughly 10% of the European market.
Source: Radio France International, May 29, 2026
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