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Northvolt Choose Sweden for EV Battery Factory
Stockholm-based Northvolt AB has selected a site in Skelleftea, Sweden, to erect a huge factory that makes cells for electric-vehicle batteries.
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Stockholm-based Northvolt AB has selected a site in Skelleftea, Sweden, to erect a huge factory that makes cells for electric-vehicle batteries.
The company seeks at least €80 million ($95 million) with which to build a pre-production line. The startup tells reporters it hopes to begin construction of the plant by late next year.
Northvolt envisions a €4 billion ($4.7 billion) facility that by 2023 employs 2,500 people and makes cells representing 32 gigawatt-hours of energy capacity per year.
Last week South Korea’s LG Chem announced plans to open an EV battery plant in Wroclaw, Poland, next year with annual capacity to supply 100,000 EVs. Tesla Inc.’s battery “gigafactory” outside Reno, Nev., targets an eventual output of 35 GWh, enough to power about 500,000 EVs.
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