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Released April 09, 2024 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Europe's leading electric vehicle (EV) battery maker, Northvolt (Stockholm, Sweden), has broken ground on a 5 billion-euro (US$5.4 billion) gigafactory plant in northern Germany.
The Northvolt Drei plant in Heide is the result of intense lobbying and financial support from the German government to stop the plant being located in the U.S. Northvolt Drei will have an annual potential production capacity of 60 gigawatt-hours (GWh)--enough for roughly 1 million EVs--and will employ more than 3,000 people when it starts operations in 2026. In January, the European Commission (EC) approved a 902 million-euro (US$982 million) financial support package from the German government for the project.
Chancellor of Germany Olaf Scholz commented: "Investments such as that of Northvolt are of strategic importance for our country and for Europe. Germany was, is, and will remain a country with a strong manufacturing base. And the production of good cars beyond the combustion engine continues to form the backbone of our industrial sector. For that, we need battery cells made in Germany, made in Europe. It is therefore good news for our entire country that, here in the north, battery cells produced in a climate-friendly way will be manufactured for one million cars a year in the future."
Industrial Info is tracking 11 active Northvolt projects with an investment value of almost US$12 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the reports.
Peter Carlsson, chief executive officer and co-founder of Northvolt, commented: "It's great to get this show on the road. We are deeply grateful for the support from customers, investors and public stakeholders to create this flagship project for the global climate transition. Heide feels like home to us--and if you're looking for a mission that's more than a job, in the region with the highest quality of life in Germany, come join us."
The plant will run on renewable energy, mainly from onshore and offshore windfarms in the region, as well as green energy imports from Denmark and elsewhere. The location of the factory in Heide, Schleswig-Holstein, is already known as Germany's "clean energy valley." Northvolt completed the construction of its first--and Europe's first homegrown--EV battery gigafactory in Skelleftea, Sweden, in January 2022. Northvolt Ett has an annual capacity of 16 GWh--enough to power 250,000 cars. The goal is to double that output to 32 GWh this year and to potentially expand to 60 GWh in the future. For additional information, see January 11, 2022, article - Europe's First EV Battery 'Gigafactory' Starts Production.
The company has been very successful in raising financing, and its latest round earlier this year pushed its total to more than US$13 billion in equity and debt to help fund its expansion in Europe and North America, with the facilities Northvolt Ett (Skellefteå, Sweden), Northvolt Dwa (Gdansk, Poland), Northvolt Drei (Heide, Germany), Northvolt-Volvo Cars joint venture gigafactory 'NOVO' (Gothenburg, Sweden), Northvolt Fem (Borlänge, Sweden), Northvolt Cuberg (San Leandro, U.S.) and the recently announced Northvolt Six (Montreal, Canada).
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The Northvolt Drei plant in Heide is the result of intense lobbying and financial support from the German government to stop the plant being located in the U.S. Northvolt Drei will have an annual potential production capacity of 60 gigawatt-hours (GWh)--enough for roughly 1 million EVs--and will employ more than 3,000 people when it starts operations in 2026. In January, the European Commission (EC) approved a 902 million-euro (US$982 million) financial support package from the German government for the project.
Chancellor of Germany Olaf Scholz commented: "Investments such as that of Northvolt are of strategic importance for our country and for Europe. Germany was, is, and will remain a country with a strong manufacturing base. And the production of good cars beyond the combustion engine continues to form the backbone of our industrial sector. For that, we need battery cells made in Germany, made in Europe. It is therefore good news for our entire country that, here in the north, battery cells produced in a climate-friendly way will be manufactured for one million cars a year in the future."
Industrial Info is tracking 11 active Northvolt projects with an investment value of almost US$12 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the reports.
Peter Carlsson, chief executive officer and co-founder of Northvolt, commented: "It's great to get this show on the road. We are deeply grateful for the support from customers, investors and public stakeholders to create this flagship project for the global climate transition. Heide feels like home to us--and if you're looking for a mission that's more than a job, in the region with the highest quality of life in Germany, come join us."
The plant will run on renewable energy, mainly from onshore and offshore windfarms in the region, as well as green energy imports from Denmark and elsewhere. The location of the factory in Heide, Schleswig-Holstein, is already known as Germany's "clean energy valley." Northvolt completed the construction of its first--and Europe's first homegrown--EV battery gigafactory in Skelleftea, Sweden, in January 2022. Northvolt Ett has an annual capacity of 16 GWh--enough to power 250,000 cars. The goal is to double that output to 32 GWh this year and to potentially expand to 60 GWh in the future. For additional information, see January 11, 2022, article - Europe's First EV Battery 'Gigafactory' Starts Production.
The company has been very successful in raising financing, and its latest round earlier this year pushed its total to more than US$13 billion in equity and debt to help fund its expansion in Europe and North America, with the facilities Northvolt Ett (Skellefteå, Sweden), Northvolt Dwa (Gdansk, Poland), Northvolt Drei (Heide, Germany), Northvolt-Volvo Cars joint venture gigafactory 'NOVO' (Gothenburg, Sweden), Northvolt Fem (Borlänge, Sweden), Northvolt Cuberg (San Leandro, U.S.) and the recently announced Northvolt Six (Montreal, Canada).
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
