The company, backed by a consortium of investors and technology companies, will begin producing the battery next year at its AI-driven battery research centre and production line in Voderady, Slovakia.
InoBat is also advancing plans to build a EUR 1 billion ($1.2bn) 10 GWh Gigafactory, which would have the potential to generate 240,000 intelligent batteries in 2025.
Both facilities will be strategically located only 40 km from the capital, Bratislava, and in close proximity to nine major automakers, including Peugeot, KIA and Jaguar Land Rover.
Global vehicle makers are preparing to launch hundreds of new electric car models over the next few years, responding to pressure from regulators who continue to tighten restrictions on greenhouse gas emissions from vehicles.
The European auto industry, in particular, is rushing to meet tighter carbon-dioxide emissions targets that take effect next year or face billions of dollars in fine if they exceed them.