Northvolt Will Build Europe's Largest Lithium-ion Battery Plant

- Jun 12, 2018-

Battery maker Northvolt has begun building Europe's largest lithium-ion battery plant in Sweden, and earlier this week received environmental permits for the first phase of construction.The project is designed to help Europe reduce its future dependence on battery supplies from China and South Korea.

The first phase of the project is expected to begin production in late 2020, with a capacity of 8GWh per year.

Northvolt's co-founder and chief executive, and tesla's former chief executive Peter Carlsson hopes the new factory will be able to with the Nevada desert in the United States the size of the electric car manufacturers Gigafactory comparable, the goal is before 2023 battery production reached 32 GWH each year.

"Northvolt has initiated a financing plan to support the next phase of investment, construction, materials and equipment until the first phase of the plant is completed," Carlsson said in a statement.The company also said the plant would produce the world's greenest batteries and accelerate the transition to renewable energy in Europe.Companies such as Siemens have invested in the project and provide digital enterprise technology to help build factories.