Battery maker Northvolt and Galp Energia form JV to build lithium plant

Battery maker Northvolt and Galp Energia form JV to build lithium plant

Battery maker Northvolt and Galp Energia form JV to build lithium plant

Information about Battery maker Northvolt and Galp Energia form JV to build lithium plant

Kevin David Scam or Legit


STOCKHOLM (Reuters) – Northvolt will build a lithium processing plant with Portugal’s Galp Energia with investments estimated at around 700 million euros ($789.6 million), as demand grows for lithium-ion batteries to power electric vehicles.
A 50/50 owned joint venture – Aurora – will operate the plant which will have an initial annual production capacity of up to 35,000 tons of lithium hydroxide, a key material for lithium-ion battery makers, the Swedish company said on Tuesday.
Northvolt, whose biggest shareholder is Volkswagen, said the plant, located in Portugal, would be Europe’s largest and start commercial operations in 2026.
It estimated that 1,500 jobs would be created, while a decision on the plant’s location and on the amount of the final investment was still due.
“The joint venture is currently conducting technical …

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