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Northvolt receives BMWK funding commitment for battery factory in Heide
The Swedish battery specialist Northvolt has received a funding commitment of 500 million euros from the Federal Ministry for Economic Affairs and Climate Action (BMWK) for the battery factory in Heide in the district of Dithmarschen, despite a budget freeze. "Securing the funding for Northvolt is an important step to trigger a large private investment that brings value creation and jobs in a future-oriented industry. And it is good that we were able to obtain the exception from the budget freeze," explained Federal Minister for Economic Affairs Robert Habeck (Greens), according to DPA.
Habeck sees this as just a first step, as there are many other similar projects that need support for their realization. Hence, concern still prevails, "even though we have achieved an important initial success," the Green politician continued. According to the plan, the Swedish company intends to build a battery factory for 4.5 billion euros in Heide, Dithmarschen, from 2026 onwards and create 3,000 jobs. So far, the company has reported investing around 100 million euros, according to the news agency.
Translated automatically from German.
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