Swedish battery agency Northvolt on Thursday stated it will construct a $5.2 billion (USD) EV battery manufacturing unit in Canada’s Quebec province—its first exterior of Europe.
Known as Northvolt Six, the manufacturing unit will likely be situated simply exterior Montreal, in line with an organization press launch. The first section of building is scheduled to start out this 12 months, with the aim of getting the manufacturing unit operational by 2026.
The manufacturing unit will initially have 30 gigawatts of annual battery manufacturing capability, later increasing to 60 gigawatts. The 170-hectare web site will host cathode and cell manufacturing, in addition to battery recycling, in line with Northvolt.
Rendering of Northvolt Six battery manufacturing unit in Quebec, Canada
The Inflation Reduction Act (IRA) handed final 12 months was one of many components within the firm’s selection of Canada for the brand new manufacturing unit. The location checks one of many bins for qualification for the revamped federal EV tax credit score which, underneath the IRA, stipulates North American manufacturing for EV batteries.
“IRA took the industry by surprise,” Northvolt co-founder Paulo Cerruti, a former Tesla government when that firm was establishing its Nevada Gigafactory, stated in an interview with Reuters. He stated Northvolt assembled a web site choice crew round a 12 months in the past, accelerating the method in early 2023. Some websites within the U.S. have been additionally thought-about, Cerruti instructed Reuters. The Canadian web site was finally chosen partly due to entry to uncooked supplies and renewable power.
Cerruti additionally instructed Reuters that Northvolt had secured an “anchor customer” for the Canadian manufacturing unit, however declined to call it. The firm has already named two main automakers as clients for its European battery crops.
Northvolt Revolt battery recycling
Northvolt plans a mammoth battery plant in Sweden with Volvo able to supplying 500,000 EVs yearly. It seems an electrical XC60 SUV could be one of many first Volvo merchandise to get Northvolt cells—round 2026. Northvolt can also be planning to make $2.3 billion of batteries for BMW, beginning in 2024.
Northvolt began in 2017 with a number of former Tesla executives, and declarations that if no person rises in Europe to scale up with EV batteries, Europe can be depending on Asia for its battery provide. In 2021, it confirmed a cell made with 100% recycled nickel, manganese, and cobalt (NMC).
Source: www.greencarreports.com