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FRANKFURT - Germany is and will remain a strong industrial location, Chancellor Olaf Scholz said on Monday as he formally opened construction at Northvolt's battery cell factory in Heide, in the northern state of Schleswig-Holstein.
Northvolt referred in a statement to the sufficient wind energy available off the west coast of Schleswig-Holstein, where Heide is located. Cell assembly in the new factory is planned for 2026, and its final expansion is scheduled to be completed in 2029. The investment amounts to 4.5 billion euros and around 3,000 new jobs are to be created, Northvolt said.
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