Sweden’s Northvolt commits to invest in EV battery plant in Germany – ET Auto

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Subject to the approval of both local communities of Lohe-Rickelshof and Norderwoehrden, construction will begin promptly, Northvolt said in a statement, adding the project would create some 3,000 jobs.

Swedish lithium-ion battery producer Northvolt said on Wednesday it had committed to go ahead with its planned investment in an electric vehicle (EV) battery plant near Heide, Germany.

“Northvolt’s planned major investment is a huge success for the west coast, for Schleswig-Holstein and Germany as a whole,” Economy Minister Robert Habeck told German newspaper Die Welt.

Subject to the approval of both local communities of Lohe-Rickelshof and Norderwoehrden, construction will begin promptly, Northvolt said in a statement, adding the project would create some 3,000 jobs.

Earlier this month, the European Commission approved 902 million euros (USD 980.02 million) in German state aid for the plant, made up of a 700 million euro direct grant and a 202 million euro guarantee.

(USD 1 = 0.9204 euros)

  • Published On Jan 18, 2024 at 12:29 PM IST

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