Blackstone Resources AG announced the creation of Blackstone Research GmbH in the city of Erfurt in Germany. This newly created firm will be wholly-owned by Blackstone. It will provide an important platform for the company to carry out further research and allow Blackstone to establish a substantial battery-production project in Germany. The aim is to manufacture the next generation of electric-vehicle batteries, close to where German auto manufacturers are based. EUR 200 million will be invested into this new project, initially from Blackstone's own funds with the aim to garner further support from subsides provided by the EU's research and development funds, and the German government at both a state and local level. The company aims to have an initial capacity of 100 million battery cells per annum, which is the equivalent of 25,000 to 100,000 electric-vehicle batteries, during the project's first phase. Further phases will increase the production substantially. Blackstone is currently looking at the optimal site for its battery manufacturing facilities. One location being considered could in the town of Eisenach, which sits 50 kilometres to the west of Erfurt. This would place the facility in close proximity to car manufacturer Opel and other Chinese-owned battery manufacturers.