Northvolt sticks with Germany over the US for its new gigafactory
Northvolt is going forward with building its EV battery plant in Germany after the EU ups its subsidies game to compete with US incentives.
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Northvolt is going forward with building its EV battery plant in Germany after the EU ups its subsidies game to compete with US incentives.
Both plants will start production in 2026, employ thousands of people and supply batteries to European car makers
Two electric vehicle battery makers plan to spend around 10 billion euros ($11 billion) on factories in Europe, they said on Friday, after Europe loosened state aid rules for green industry projects in a bid to win the subsidy race with the US.
Sweden's Northvolt said on Friday it will invest several billion euros to build an electric vehicle battery plant in Germany, in a win for Europe after speculation that the company could divert... | May 12, 2023
Europe is set to get two major factories that will be built by two electric vehicle battery makers that said on Friday they plan to spend around 10 billion...