Northvolt to Power a Million EVs Annually with New German Factory

The €4.5 billion project in Heide, backed by Chancellor Scholz, aims to bolster Europe's technological sovereignty and create 3,000 jobs.

Northvolt's new electric car battery plant in Germany is expected to produce cells for 1 million cars annually.
The €4.5 billion investment in the plant near Heide is projected to create 3,000 jobs, with production starting in 2026.
German Chancellor Olaf Scholz emphasizes the plant's role in securing technological sovereignty and value creation in Europe.
The factory will utilize locally produced offshore wind power, aligning with Germany's energy and transport transition model.
Despite a slowdown in the EV market, Northvolt CEO Peter Carlsson remains optimistic about the transition to electric vehicles.