Northvolt Faces Challenges in Building Europe's Largest Lithium Factory
Northvolt's Lithium Factory Plans Under Scrutiny
Northvolt, the Swedish battery giant, faces significant challenges in its plans to build Europe's largest lithium factory, a project initiated in collaboration with Portuguese energy firm Galp. The plans have been pushed back by two years, with the start date now set for 2028. This delay comes as further negative news reports reveal production setbacks and financing uncertainties.
Financing and Production Issues
As part of their strategy to ensure financial stability, Northvolt outlined emergency measures this week. The European Investment Bank (EIB), which is considering an investment of 825 million euros in the project, has not yet made a decision, adding to the ongoing uncertainties. The facility aims to process 52,000 tons of lithium hydroxide annually, a goal crucial for Europe’s energy transition.
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