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    Summary sheet

    Release date
    14 June 2023
    Status
    Reference
    Approved | 21/03/2024
    20230188
    Project name
    Promoter - financial intermediary
    NOVO EV BATTERY PRODUCTION
    NOVO ENERGY PRODUCTION AB
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 500 million (EUR 458 million)
    USD 2233 million (EUR 2047 million)
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the construction and operation of a production facility for advanced lithium-ion batteries for electric vehicles to be located in Gothenburg. The site will have a yearly production capacity of 35 million cells or up to 17.5 GWh of battery capacity being produced from one downstream block and associated facilities integrated into one building.

    The aim is to make a substantial contribution to the development of a competitive EU-based battery industry while enabling the development of the European electric vehicles (EV) industry. Additionally, the project will support the transition to e-mobility, by meeting the growing demand for EV batteries in Europe with cutting-edge battery cell.

    Environmental aspects
    Procurement

    As an integrated industrial plant, the project falls under Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EU requiring a full EIA process. An EIA Report has been produced, presented for public consultation and the full environmental permit is expected to be issued by the Competent Authority in the Summer of 2023. During appraisal the EIB will review the EIA process and documents, as well as compliance with EU Directives for the protection of Habitats and Birds, respectively.

    The promoter is a private entity not operating in the utilities sector, thereby not obligated to follow public procurement procedures.

    Milestone
    Under appraisal
    Approved
    21 March 2024

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - NOVO EV BATTERY PRODUCTION
    Publication Date
    23 Mar 2024
    Document language
    Main Topic
    Lending
    Document Number
    178345538
    Document Focus
    Environmental Information
    Project Number
    20230188
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Impact Assessment (ESIA) - NOVO EV BATTERY PRODUCTION - Miljökonsekvensbeskrivning
    Publication Date
    20 Feb 2024
    Document language
    Main Topic
    Lending
    Document Number
    179864666
    Document Focus
    Environmental Information
    Project Number
    20230188
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Other links

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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