STOCKHOLM/BERLIN : Sweden's Northvolt said on Friday it will invest several billion euros to build an electric vehicle battery plant in Germany, in a win for Europe after speculation that the company could divert planned investment to the United States.
The Swedish battery maker, alongside Volkswagen, is the furthest ahead among just a handful of European players paving the way for a home-grown battery industry, with a large chunk of planned capacity in Europe to be owned by Asian players. "The EU-Commission opened up a clear path towards securing important industrial investments in Europe," German Economy Minister Robert Habeck said in a statement.
Source: News Formal (newsformal.com)
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