Europe’s first mega battery factory gets EIB blessing

Euractiv | May 17, 2019 at 8:09 AM
  • The European Investment Bank (EIB) is on the verge of granting €350 million to a Swedish company for what will be Europe’s first mega-sized battery factory, the EU lender announced on Thursday (16 May).
  • The initial tranche of EIB money will be used to build the first part of the project.
  • When operating at full capacity, the Northvolt factory will be able to produce 32 GWh of battery capacity every year.