Charged EVs | Northvolt to buy paper mill in Sweden for cathode and cell plant
Swedish battery producer Northvolt has signed a letter of intent to buy a former paper mill, which it plans to develop right into a cathode and cell manufacturing plant. The Kvarnsveden Mill in Borlänge, Sweden closed in 2021. Northvolt plans to refurbish the services and infrastructure to develop a cathode and cell manufacturing plant, which is to start operations in late 2024.
The corporate’s aim is to supply 50% of its uncooked materials from recycled batteries by 2030.
“Since Northvolt’s founding, we now have centered on round battery manufacturing, however that is the primary time we are going to reuse a complete manufacturing website,” stated co-founder and CEO Peter Carlsson.
Northvolt says it expects the Gigafactory to depend on one hundred pc clear vitality, and says “the positioning may have a possible annual manufacturing capability of greater than 100 GWh of cathode materials.” The cells produced there shall be assembled into battery packs at different Northvolt services.
Northvolt says the plant will be part of manufacturing services it’s growing with its companions in Sweden, Norway, Poland, Germany and Portugal. The corporate additionally says it has greater than $50 billion in orders from BMW, Fluence, Scania, Volkswagen, Volvo and Polestar.