Northvolt is currently reviewing its plans to build a new plant in Borlange, central Sweden, but has not yet made any definitive decisions, the company stated on Wednesday, in response to reports suggesting the project might be cancelled.
A report by Swedish business daily Dagens Industri had earlier cited a municipal official claiming the cancellation of the project. Northvolt, however, clarified in a statement that it is engaged in a strategic review of the site and is in discussions with various stakeholders, including the municipality.
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“We are conducting a strategic review of the site and talking to several parties, including the municipality. However, that discussion is still ongoing, so we will return with further comments when a decision has been made,” a spokesperson from Northvolt said.
The company emphasized its ongoing expansions across Sweden, Germany, and Canada, driven by demand from customers and investors.
“In 2022, Northvolt announced plans to acquire an old paper mill in Borlange, intending to transform it into a gigafactory with a potential annual production capacity exceeding 100 gigawatt-hours (GWh) of cathode material and employing up to 1,000 people,” the spokesperson added.
Initially slated to commence operations in late 2024, the Borlange plant was expected to support fulfilling orders valued at over $50 billion from key customers.
