Sweden's Northvolt will invest several billion euros to build a gigafactory in Germany, able to supply around 1 million electric vehicles with battery cells every year, the lithium-ion battery maker and German government said in a joint statement on Friday.
The federal government as well as the Schleswig-Holstein state government will provide subsidies for the project in Heide, northern Germany, subject to approval by the European Commission, the statement said.
The investment will create 3,000 direct jobs in Heide and thousands more in the surrounding industry and service sector. A spokesperson said on Friday that setting up two plants concurrently was an option but nothing had been decided.
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