Will Russian energy storage firm Renera invest in EV batteries?

June 23, 2023: Russian energy storage firm Renera says a special investment contract providing incentives and financial backing for domestic production of batteries for EVs and stationary storage systems was signed at the St Petersburg International Economic Forum on June 16.

How has Russia's energy sector changed over time?

Throughout Russian history, the country's energy sector periodically has strengthened and weakened. Managing this cycle has been a centerpiece of Russia's domestic and foreign policy since czarist times. The revenues from oil and natural gas exports show how the energy sector empowered the Kremlin to consolidate the country.

Why is the energy sector important to Russia?

The energy sector contributes to Russia's ability to expand its influence to its immediate neighbors. As the importance of the Russian Empire's energy sector grew, it became clear that Russia's internal stability greatly affected the sector. The Bolsheviks used the energy sector in their attempts to overthrow the monarchy in the early 1900s.

Is Russia's energy sector under strain?

In its current configuration, Russia's energy sector is under strain. The consolidation of the sector mostly under two large state firms had many benefits for the Kremlin, but after a decade of consolidation the disadvantages are piling up.

Should Russia create an infrastructure for EV charging stations?

Russia must also “create an infrastructure for charging stations” for EVs, he said. Rosatom announced on November 23 that it had established a new subsidiary — Renera — dedicated to the manufacture of energy storage systems.

Will Russia produce a prototype battery by the middle of the year?

The move follows Russia’s claim last month that it will have produced prototype batteries by the middle of the year.