Northvolt to build multi-billion euro battery plant in Germany
Reuters
23-05-12 10:24
Swedish battery maker Northvolt will invest billions of euros to build an electric vehicle battery plant in Germany, with subsidies of up to €500m to be granted by the German government subject to EU approval. Northvolt could invest between €3bn ($3.5bn) and €5bn in the plant in Heide, which would provide more than enough capacity to supply one million EVs a year with battery cells. The plant is due to come onstream in 2026 and will create 3,000 direct jobs in Heide and thousands more in the surrounding industries.