Release date: 15 November 2017
Promoter – Financial IntermediaryNORTHVOLT AB
The project consists of the construction and operation in Vasteras, Sweden, of an innovative first-of-its-kind demonstration plant for the manufacturing of advanced Lithium-ion cells for battery applications in transport, stationary storage and industrial and consumer applications.
The demonstration project aims at the creation of a sustainable, cost-competitive innovative cell and battery production industry in Europe and contributes to the security of supply in critical components (batteries) to the EU industry.
Proposed EIB finance amount: EUR 52.5 million
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 52 million
Total cost (Approximate amount)
EUR 105 million
The project will help create the conditions enabling the deployment of electro-mobility, facilitating the transformation of the automotive industry and, at same time, supporting the development of a more efficient and sustainable transport system in Europe. The project will therefore support EU climate action policy.
The promoter has been assessed by the EIB as a private company not subject to EU rules on public procurement or concessions.
Signed - 27/04/2018
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).