SVOLT is looking at Finland for new battery factory
SVOLT Energy Technology is weighing and evaluating the construction of another battery cell factory. Finland is among the shortlisted locations which include countries both within and outside of the European Economic Area (EEA).
The company says that significant raw material deposits, a competitive green energy infrastructure as well and a sustainable supply chain for the battery industry have been key arguments to include Finland in the shortlist. The potential factory could have a total capacity of about 50 GWh.
“With an additional battery cell factory, we want to make an important contribution to zero-emission mobility and further the energy transition,” says Kai-Uwe Wollenhaupt, President SVOLT Europe & Senior Vice President SVOLT Energy Technology, in a press release. “A project of this scale relies on the close cooperation of all decision-makers: SVOLT, local authorities and national government.”
It should be noted that Finland is the only location mentioned by name in the press release. However, the company also states that any investment in the EEA would require substantial financial support in the form of public funding in order to make the investment economically viable. SVOLT points to the competitive landscape within the region as compared to countries outside of the EEA as one of the reasons for this.
Other locations besides Finland are currently under investigation. And as Kai-Uwe Wollenhaupt says in the press release, decisions regarding a new site are always driven by multiple factors.
“Alongside competitive and reliable infrastructure, incentives can also form an important and necessary component of the final location selection process.”
