#Northvolt to invest $200 mln in new #Polish battery plant

(Reuters) – Swedish lithium-ion battery maker Northvolt said on Friday it will invest $200 million in a new energy storage systems factory in Gdansk, Poland.

China currently hosts roughly 80% of the world’s lithium-ion cell production, but with demand expected to soar over the next decade Europe’s capacity is set to expand quickly.

“Securing battery cell manufacturing capacity in Europe is key for its industrial future, but what is equally critical is the industrial capacity for integrating cells into real-world solutions,” Northvolt CEO Peter Carlsson said in a statement.

“It is this that the new factory will deliver — sophisticated, sustainable energy storage systems to support the transformation of Europe’s electricity grid and its industry.”

Read more at: https://www.reuters.com/article/northvolt-poland/update-1-northvolt-to-invest-200-mln-in-new-polish-battery-plant-idUKL8N2KP35Y

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