SCHOLZ HAILS NORTHVOLT FACTORY AS SIGN OF GERMANY’S INDUSTRIAL APPEAL

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SCHOLZ HAILS NORTHVOLT FACTORY AS SIGN OF GERMANY’S INDUSTRIAL APPEAL – Battery cells will be produced for 1 million cars a year 

Germany is and will remain a strong industrial location, Chancellor Olaf Scholz said on Monday as he formally opened construction at Northvolt’s battery cell factory in Heide, in the northern state of Schleswig-Holstein.

The Swedish battery developer and manufacturer will produce climate-friendly battery cells for 1 million cars a year at the site.

Northvolt referred in a statement to the sufficient wind energy available off the west coast of Schleswig-Holstein, where Heide is located.

The company said this was a crucial point in determining the location. The first wind farm in Germany was built in the local Dithmarschen area in 1987, it said.

Cell assembly in the new factory is planned for 2026, and its final expansion is scheduled to be completed in 2029. The investment amounts to 4.5 billion euros ($4.86 billion) and around 3,000 new jobs are to be created, Northvolt said.

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