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Northvolt to Continue Construction of $7 Billion Factory in Montreal
Updated July 2, 2024
Northvolt, a Swedish battery manufacturer, has announced that it will proceed with the construction of a $7 billion factory in Montreal, despite previous indications that it would refocus on its domestic plant. The company, which is also building a factory in Germany, has faced delays in constructing its mega-factory in Sweden.
According to Northvolt spokesman Laurent Therrien, the company is conducting a strategic review to establish timelines for its projects in response to customer demand. Despite the challenges, Northvolt reaffirms its commitment to playing a significant role in the global energy transition by producing electric batteries in Quebec.
As of the latest update, the plant is scheduled to commence manufacturing electric battery cells and cathode active material by 2026.
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