Nemaska Lithium signed a five-year supply agreement with Northvolt

SMM8, 22 March: Nemaska Lithium and Northvolt announced on Sunday that they had signed a five-year supply agreement for the supply of battery-grade lithium hydroxide to Northvolt.

It is reported that in June, battery maker Northvolt had begun building Europe's largest lithium-ion battery plant in Sweden, and the company had obtained environmental permission for the first phase of the project that month. The project is designed to help Europe reduce its reliance on battery supplies from China and South Korea in the future. The construction of the first phase of the project is expected to be officially put into production in late 2020, and the battery capacity of 8GWh will be produced each year. Peter Carlsson, co-founder, chief executive of Northvolt and former chief executive of Tesla, hopes the new plant will be comparable in size to Gigafactory, an American electric car maker in the desert of Nevada. The goal is to reach 32GWh each year by 2023. "Northvolt has launched a financing plan to support the next phase of investment, construction, materials and equipment until the first phase of construction of the plant is completed," Carlsson said in a statement. The company also said the plant would produce the world's greenest batteries, accelerating the transition of the European battery industry to renewable energy. Siemens and other companies have invested in the project and provided digital enterprise technology to help the company build factories.