Northvolt has signed a letter of intent to buy a closed paper mill in central Sweden from Stora Enso to develop the site into a gigafactory for active material and lithium-ion battery cells.
The plant at the Kvarnsveden Mill and the surrounding industrial area in Borlänge will be using 100% clean energy from the region, the battery specialist said.
It is expected to start operations in late 2024 and slated to employ up to 1,000 people.
