The crisis-stricken Swedish battery manufacturer Northvolt, which has had major financial problems for a long time and has most recently filed for bankruptcy protection in the USA, continues to build a huge factory at Heide south of the Danish-German border, writes Flensborg Avis.
Nortvolt, which produces batteries for electric cars, plans to invest more than 33 billion DKK in the new factory. It is located almost 100 kilometers south of the Danish-German border on the west coast of Schleswig-Holstein, and Northvolt expects to create 3,000 jobs at the factory itself and no fewer than 8,800 related jobs in the region. Among the investors in the Swedish group are the Danish pension companies ATP, PFA Pension and Danica.
The "Northvolt-Germany" project in Schleswig-Holstein is supported by both public and regional German subsidies of almost seven billion DKK, of which one billion comes from Schleswig-Holstein alone. However, the company has already announced that it will not make use of the German subsidies totaling seven billion. DKK, before a possible reorganization after bankruptcy protection is in place, writes Flensborg Avis.
The construction of the factory began in March this year, and originally the plan was to start production of batteries in 2026. Despite the unrest of recent months, it is now reported that construction will continue, but that production is not expected to start until 2027 at the earliest.
On Friday, it emerged that the company's chief executive, Peter Carlsson, has resigned to make way for a new CEO who will carry out the expected reorganization during the first quarter of 2025. Peter Carlsson, who in his own right helped found Northvolt, will continue as a member of the company's board of directors and as a senior advisor to the company.
The planning of the large factory in Heide has taken a long time - partly because there was uncertainty about the exact location, and partly because there are major logistical challenges with the transport of batteries by both road and rail. on the west coast of Schleswig-Holstein, writes Flensborg Avis.
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