An EU loan of up to eur 350 million for Swedish gigafabriek that the battery's

The European investment Bank (EIB) is investing € 350 million in the case of a Swedish gigafabriek which is a li-ion battery for electric car does. That's the bank on Wednesday revealed.

this is the first such plant in Europe by a European company is set up. The Swedish manufacturer of the battery Northvolt is the founder of the factory, which is currently being built in the North of Sweden Skelleftea. The company also has a location been chosen, because, in this region, the resources are available.

The money from the bank is not a grant but a loan. The investment bank is a financial support for the sustainability is to stimulate and to make sure that Europe plays a pioneering role in the field of accuproductie.

According to the schedule, the plant will be open in 2021. That will have the capacity to meet each year to 16 gigawatt-hours (GWh) of lithium ion batteries to create them. At a later stage, the capacity will be increased to 40 GWh per year.

Previously built Northvolt a smaller demofabriek, where last year the production of batteries has started. In the course of the 52 million euro in the plant parts.

as for The batteries, which is Northvolt in Skelleftea is going to be producing, are not only suitable for passenger cars and heavy goods vehicles, but also for application in, for example, in the manufacturing industry. Among others, Volkswagen, BMW, Siemens, and Vattenfall will have an interest in, the battery will be shown.