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