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Sweden: CEO says Northvolt benefits from high electricity prices


M-Brain Nordic News  

 

    According to Swedish battery manufacturer Northvolt's CEO and founder Peter Carlsson, the company benefits from the high electricity prices. He explained that Northvolt's factory being located in SkellefteƄ in the northern part of Sweden where the electricity price is the lowest, becomes a competitive advantage when prices are soaring among competitors. Northvolt also has plans to build battery factories in Gothenburg, Sweden, and in northern Germany, where the price situation for electricity is different. Carlsson pointed out that if those facilities were put into full production today, electricity would become a larger part of the company's cost mass. The facilities will not be put into production until during the period 2024-26, and the CEO assesses that the market has stabilised by then and that the contagion effect from German natural gas prices has subsided. Northvolt wanted to reach full production, 16 GW, at its factory in SkellefteƄ at the end of 2023, but it will not be possible to achieve that goal. Carlsson that the goal can be reached in 2024 due to lead times and harmonisation with launch projects with different car brands.

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