From Sifted.eu, January 8:
EU greenlights €902m Northvolt deal for German gigafactory
Northvolt’s German factory, announced last year, will be in Heide, a town near the Danish border
Swedish startup Northvolt, Europe’s best-funded battery manufacturer, has secured approval from the European Commission for €902m in state aid from Germany to build a production plant in the north of the country.
The German state funding package was announced last year but was put in jeopardy in November, after the country announced a budget freeze. Northvolt was then granted an exception, but the deal still awaited approval from the EU.
Northvolt’s German factory, announced last year, will be in Heide, a town near the Danish border. Production is expected to start in 2026 and produce 60 GWh of battery capacity each year, enough to power 600k electric vehicles.
The total price tag for the facility, which is expected to create around 3,000 jobs, has been estimated at approximately €4.5bn. ...
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