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Northvolt

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Northvolt receives EU approval for a €986 million German subsidy to construct an electric vehicle (EV) battery plant.y

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.











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  • Grace Njeri

    1 w

    This will greatly increase the adoption of EVs.

    1
    • Jane Wangui

      2 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.

      3
      • Kevin

        14 w

        This is a hallmark!

        4
        • Tabitha Kimani

          14 w

          Transitioning to clean energy requires huge amount of funds which calls for investors commitment.

          4
          • Kihm Francis

            14 w

            Promising...Investing in clean energy is essential for combating climate change..

            5
            • dickson mutai

              14 w

              A commitment to green transitions and reducing reliance on conventional fuels

              6
              • We Don't Have Time

                14 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

                6
                • Rotich Kim

                  14 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

                  6
                  • Joseph Githinji

                    14 w

                    @rotich_kim climate funding is so crital, hope it will be invested maximumly for the wellness of our planet.

                    6
                  • George Kariuki

                    14 w

                    Let's continue to hold both corporations and governments accountable for ensuring a just and sustainable transition to a carbon-neutral future.

                    6
                    • Joseph Githinji

                      14 w

                      @george_kariuki they both have a major role to play in making our environment sustainable and accountability is key.

                      6
                    • walter lungayi

                      14 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.

                      8
                      • Joseph Githinji

                        14 w

                        @walter_lungayi it is a surely a noble investment, hope more funds will be channelled in such projects for a better environment.

                        5
                      • Joseph Githinji

                        14 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.

                        13
                        • Johannes Luiga

                          14 w

                          Encouraging!

                          7
                          • CHRIS NGATIA

                            14 w

                            These funds will definitely help

                            7
                            • Princess

                              14 w

                              This will likely boost the development of the electric vehicle battery plant, contributing to the growth of the EV industry.

                              14
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