Swedish lithium-ion battery manufacturer Northvolt secured approval from the European Union for a 902-million-euro ($986.43 million) German state subsidy. The funding will be utilized to establish an electric vehicle battery production plant in northern Germany.
According to the European Commission, the plant is expected to expedite the green transition in the 27-country bloc and decrease dependence on traditional fuels. The German financial support is deemed crucial, as Northvolt had plans to construct the plant in the United States with assistance from the U.S. Inflation Reduction Act if the aid was not granted. The German subsidy comprises a 700-million-euro direct grant and a 202-million-euro guarantee.
Situated in the city of Heide, the plant will boast an annual capacity of 60 GWh, equivalent to powering 800,000 to 1 million electric vehicles annually, depending on the battery size. Production is scheduled to commence in 2026, with full capacity anticipated by 2029.









•
•
35 w
This will greatly increase the adoption of EVs.
•
•
36 w
This is right.... subsidies should be given to those that are going green and not on fossil fuel...this will make a significant impact.
•
•
48 w
This is a hallmark!
•
•
48 w
Transitioning to clean energy requires huge amount of funds which calls for investors commitment.
•
•
48 w
Promising...Investing in clean energy is essential for combating climate change..
•
•
48 w
A commitment to green transitions and reducing reliance on conventional fuels
•
•
•
48 w
Dear Ann Nyambura Your climate love has received over 50 agrees! We have reached out to Northvolt by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time
•
48 w
Money given will be of great significant towards raising resources and machine that are climate and environmental friendly by the use of new technology and innovation
•
•
48 w
@rotich_kim climate funding is so crital, hope it will be invested maximumly for the wellness of our planet.
•
48 w
Let's continue to hold both corporations and governments accountable for ensuring a just and sustainable transition to a carbon-neutral future.
•
•
48 w
@george_kariuki they both have a major role to play in making our environment sustainable and accountability is key.
•
•
48 w
This substantial subsidy from the EU demonstrates a strong commitment to supporting the development of electric vehicle technology, which is essential for achieving sustainability goals.
•
•
48 w
@walter_lungayi it is a surely a noble investment, hope more funds will be channelled in such projects for a better environment.
•
•
48 w
This is a major step that is intended to boost greening the transport sector. This is the future and more funds should be invested in such projects.
•
•
48 w
Encouraging!
•
48 w
These funds will definitely help
•
•
48 w
This will likely boost the development of the electric vehicle battery plant, contributing to the growth of the EV industry.