Posted 12/3/2023, 1:54:24 PM
Germany makes exception to pay €700M for Northvolt battery plant despite budget freeze
- Germany will pay €700M to Northvolt for a battery plant despite budget freeze
- Plant planned under special climate fund, but court ruling blocked financing from that fund
- Deal was at risk without funding, so an exemption was made
- Northvolt plans to produce EV batteries in Germany, investing €4.5B and creating 3,000 jobs
- Episode shows challenges as government pushes agenda amidst budget uncertainties