Swedish electric battery maker Northvolt confirmed Friday that it will build a huge plant in Germany after several months of uncertainty. Northvolt CEO Peter Carlsson announced in a joint statement with the German government that the company has decided to take the necessary steps to expand in Heide, in northern Germany. The German government promises to provide financial support for the project, although the exact amount has not yet been specified and is subject to approval by the European Commission. This federal aid is expected to be used to start up the multi-million-dollar plant, which will begin production in 2026, according to the German government.
In March 2022, Northvolt announced plans to build this large-scale battery plant in Heide, located in the Schleswig-Holstein region. The plant will have the capacity to supply batteries for one million electric vehicles per year and will be Northvolt’s first facility outside Sweden. As one of Europe’s leading players in the battery sector, Northvolt is crucial to the transition of the automotive industry. However, Europe has lagged behind China and the United States in terms of battery production.
In addition to the project in Germany, Northvolt also announced Friday that it is considering building a factory in North America. According to a spokeswoman for the group, a final decision will be made in the coming months. These expansions are part of Northvolt’s strategy to increase its production capacity and meet the growing demand for electric batteries worldwide.
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