Japanese electric motor giant Nidec has finalised a deal with Norwegian battery start-up Freyr for a module and pack joint venture (JV) while at the same time cementing a previously agreed $3bn sales order.
Freyr as part of the deal will supply 38GWh of lithium-ion (Li-ion) battery cells from 2025-2030, with an option to upsize the volume to 50GWh over the period and increase deliveries further beyond 2030.
