Germany and the state of Schleswig-Holstein will grant Swedish battery and storage specialist Northvolt about €700m ($758m) in subsidies for the construction of a battery factory in the northern state – despite a budget freeze recently declared by the finance ministry in the wake of a constitutional court ruling against a federal government shadow budget.
The support will be granted over the course of several years, according to public broadcaster NDR, which said a so-called ‘funding notice’ had been sent to Northvolt by the federal economics ministry.
