Giant Swedish battery factory gets major backing

The European Investment Bank (EIB) has given an in-principle commitment to supply a credit facility of EUR 350 million to Swedish Northvolt's forthcoming battery factory. The EU Commission calls it a milestone.
Photo: PR Northvolt
Photo: PR Northvolt

Europe's first giant battery factory, Northvolt Ett, to be located in Northern Sweden, has just received an "in-principle agreement" from the European Investment Bank (EIB) to support financing the factory with EUR 350 million, the EU Commission informs in press statement.

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