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Porsche has opened its first European battery factory in Horná Streda, Slovakia, with a €1 billion investment to produce batteries for the new electric Cayenne. The facility, featuring advanced automation and a production capacity of 132 modules per hour, will source battery cells from LG Energy Solution in Poland and aims to enhance Europe's control over battery technology. Future expansions are planned, with an additional €700 million investment to increase production capacity amid growing competition from Asian manufacturers.