As stated by the EIB, the project consists of the design, construction, commissioning, ramp-up and operation of an innovative large-scale vertically integrated lithium-ion battery cell manufacturing facility with a capacity of 42 GWh, together with an upstream cathode active materials plant and a battery cell recycling facility. The production is intended for the supply of European automotive manufacturers for premium electric vehicle models currently under development. The Project is located at the Northvolt Ett site in Skellefteå in northern Sweden.
The objective of the Project is to make a substantial contribution to the development of a competitive EU-based battery industry. The Project can be considered a key enabler for the development of the European EV industry.
Considering the project activities, the investment amount (US$ 1050.00 million) and the total project cost (US$ 8098.00 million) disclosed by the EIB do not seem to be realistic
As stated by Bloomberg, Northvolt AB manufactures renewable energy components. The Company offers batteries to replace fossil fuels with electricity that helps in energy generation and distribution from coal, oil, and natural gas. Northvolt serves auto industries in Europe.
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Project contacts not provided at the time of disclosure.
Client - NorthVolt AB:
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