Financial Times Exclusive: Caterpillar Invests in Mega Battery Factory in Subotica
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The influential Financial Times has exclusively reported that U.S.-based Caterpillar Inc. is investing in the Serbian company ElevenEs, marking the start of construction of a next-generation lithium battery factory in Serbia.
Serbian company ElevenEs has completed the first phase of its Series B investment round with support from Caterpillar Venture Capital Inc. Construction of a 1GWh LFP mega-factory for battery cells in Subotica will begin in February 2026. Caterpillar is a global leader in the manufacturing of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. In addition, the first phase of the
