Northvolt to Invest $5B in Li-ion Battery Factory

URLhttps://www.powderbulksolids.com/mining-metals/nor
SourcePowder & Bulk Solids
Date Published09/29/2023

Additional Reshoring Information:

Company/Division name Northvolt
Parent companyNorthvolt
Type of work Manufacturing
Reshoring category:Nearshoring
Total number of jobs (added or to be added):3000
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2026
Capital investment ($):5000
Country(ies) from which reshored:Sweden
City reshored to:Saint-Basile-le-Grand and McMasterville, Quebec
State(s) reshored to:Canada
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredLithium-ion EV battery
What non-domestic negative factors made offshoring less attractive?Green considerations, Supply chain interruption
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Infrastructure, Proximity to customers/market, U.S. price of natural gas/chemicals/electricity, Canada financial support & Quebec investments
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