BERLIN : Northvolt believes in Germany as an industrial location and continues discussions on building a battery plant there, it said on Wednesday amid speculation that the Swedish battery maker could divert its planned investment to the United States.The $369-billion U.S. Inflation Reduction Act passed l
BERLIN : Northvolt believes in Germany as an industrial location and continues discussions on building a battery plant there, it said on Wednesday amid speculation that the Swedish battery maker could divert its planned investment to the United States.
"We believe in the location. There are certain requirements in order to make this feasible in competition with the United States," Nicolas Steinbacher, Head of Strategy and Program for Northvolt in Germany, said at a battery conference in Berlin. The company is holding fortnightly citizen consultations in Heide in northern Germany, where it signed a memorandum of understanding with the state of Schleswig-Holstein in 2022 for a possible battery plant.Chief Executive Peter Carlsson said last October that Northvolt might delay the plant, which had been slated to begin production in late 2025, and prioritise expansion in the United States, citing the sharp rise in energy prices in Europe.
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