International
Swedish battery giant Northvolt to invest in large battery factory in Germany
Seetao 2022-03-16 17:28
  • Northvolt's gigafactory in Hyde is also further evidence that the German auto industry is moving beyond tradition
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Swedish green battery maker Northvolt will build a plant with an annual capacity of 60 gigawatt hours in the city of Heide in the northern German state of Schleswig-Holstein, Germany Trade & Invest said. This is the company's third production facility of this size and its first outside Sweden. It is reported that the plant will cost about 4 billion euros.

Northvolt is a Swedish battery manufacturer. According to the Wall Street Journal, Northvolt is the first European company to develop a lithium-ion battery. The company has previously carried out in-depth cooperation with Volvo Cars, which is controlled by China's Geely, on new energy travel. On February 4, 2022, Volvo Cars announced that it will build a new battery manufacturing plant with Northvolt in Gothenburg, Sweden, which will start operations in 2026 and provide 3,000 jobs. The two companies had previously announced the creation of a research and development center in December last year, with a total investment of about SEK 30 billion for the two projects.

Peter Carlson, CEO of Northvolt, said: “At Hyde, we really found a place that could meet all of our requirements: attract talent and feel supported by our desire to produce the most environmentally friendly batteries in the world.” Keyword: Engineering , Engineering News

Robert Hermann, general manager of the German Federal Trade and Investment Agency (GTAI), said that Northvolt's construction in Hyde will not only bring the company closer to Europe's largest auto market, but also gain access to German high-tech labor and expand batteries for Germany. The production pattern provides an important complement. Germany is by far Europe's leading producer of EV batteries, with 485 GWh of existing and planned facilities. Other major companies that have recently built or planned production facilities in Germany include CATL, Honeycomb Energy Technology, PSA Group and Tesla.Editor/XingWentao

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