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© Northvolt Electronics Production | March 15, 2022

Northvolt to set up third gigafactory in Germany

Swedish battery manufacturer Northvolt has signed a Memorandum of Understanding with the north German state of Schleswig-Holstein and the region of Heide for the development of a 60GWh battery manufacturing plant.

With a potential annual production capacity of 60 GWh, Northvolt Drei will deliver a supply of lithium-ion batteries to the European market, which would be sufficient for some one million electric vehicles, a press release reads.

Northvolt Drei, is expected to employ 3,000 persons and produce its first batteries in late 2025, increasing Northvolt’s pipeline of battery manufacturing capacity under development to over 170 GWh.

”We’re excited to announce Northvolt Drei – a project which fits well into a promising future cluster of clean technology ventures emerging in northern Germany and advances the wider European transition towards a sustainable society within which Germany plays a crucial role,” says Peter Carlsson, Co-Founder and CEO of Northvolt, in a press release.

The selection of Heide, Schleswig-Holstein, is – according to Northvolt – key to fulfilment of this objective. The region is said to host "the cleanest energy grid in Germany", one which is characterised by a surplus of electricity generated by onshore and offshore wind power and reinforced by clean energy provided through grid interconnections to Denmark and Norway.

In addition to being centrally positioned in the emerging European battery supply chain connecting Scandinavia and continental Europe, the region also provides the space required to establish a battery plant of adequate size to leverage the economies of scale in production.

Alongside battery production, The company says that the new German Gigafactory will target an on-site battery recycling plant.

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September 29 2022 3:24 pm V20.8.40-2
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