Northvolt Plans to Build 2 Battery Factories
Swedish company Northvolt plans to build the large battery factories, one in Skellefteå, Sweden and the other in Salzgitter, Germany. Investment volume $3 billion. Annual production capacity 150 GWh in 10 years time or 20-25% of the European lithium-ion market. 85% of that market will be vehicles, the other 15% stationary applications. Northvolt also wants to enter in recycling and hopes to source 50% of its material input from used batteries. Production in Sweden could begin next year.