Ionly launches Spain-manufactured 5 kWh residential battery

Key elements manufactured in Spain include the Battery Management System (BMS) electronics and proprietary software, plastic and metal structural components, wiring harnesses, and the cooling system. Active and passive safety devices, power connectors, power supplies, busbars, and user interface electronics are sourced from other European suppliers.

So just about everything except for the actual battery cells.

Don't get me wrong, having the stuff made in the EU is better than nothing. But the real challenge is still the actual cells. The stuff they do produce is relatively trivial (on an industry scale) and could be spun up on short notice if needed.