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Northvolt boss: Europe needs 15 factories for electric car batteries

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The Swedish battery manufacturer Northvolt expects the demand for battery cells to grow immensely as a result of the boom in e-cars. “I think that by 2030 we will possibly need a total capacity of 3000 gigawatt hours worldwide. In Europe alone more than 800, maybe 1000 gigawatt hours could be necessary,” said company boss Peter Carlsson of the industry newspaper Automobile week. “That means we need 15, maybe 20 really big factories in Europe.”

A lot of money would have to be invested in this, added Carlsson. Setting up a production facility for car batteries with a total electrical energy of one gigawatt hour would cost around 100 million US dollars today. “If you extrapolate that to 1000 gigawatt hours, you are making a big investment.”

In the latest financing round, Northvolt raised $ 2.75 billion. “That gives us the firepower to carry out our plans,” said Carlsson. At the end of the year, Northvolt intends to start producing the first eight gigawatt hours, with a further eight gigawatt hours to follow next year. “It will then take twelve to 18 months to fully ramp that up.” Production is to be increased to 60 gigawatt hours by the beginning of 2025, enough for 800,000 to one million vehicles.


(bme)

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