The demand for electric vehicles (EVs) is higher than forecasted despite the global economic situation caused by the COVID-19 pandemic. The unprecedented rise in demand will also increase the demand for batteries and battery cells. The surging demand gives rise to an opportunity for European machinery and equipment manufacturers to supply to the gigafactories. One of the major challenges facing the industry is the limited driving range of lithium-ion batteries. The current production batteries provide a range of up to 450 kms, while the consumers demand and prefer more. To improve the range and efficiency, advanced battery components and materials are imperative. The focus is on highperformance components that are directly used in the battery manufacturing, electric motors, power electronics and thermal management.