Northvolt to invest billions to build gigafactory in Germany
Reuters
23-05-12 09:15
Sweden's Northvolt plans to build a gigafactory in Heide, Germany in a move that will create 3,000 direct jobs. The facility will produce 1 million electric vehicle battery cells per year, according to the company. Northvolt and the state of Schleswig-Holstein signed a memorandum of understanding earlier this year but later said that the firm was weighing a preference for setting up a plant in the US because of "more favourable subsidies and lower energy costs." Construction could start later this year if subsidies are signed off.