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May 9, 2023

Sweden turning in a hotspot for battery investments

Last week, the Chinese battery company Shanghai Putailai New Energy Technology (PTL) announced its plans to establish a factory in Northern Sweden, just outside Timrå with the aim to build Europe’s largest facility for the manufacture of anode materials.

Anode material is a main component of batteries, but currently production of this key material is extremely limited. The establishment of this factory is therefore welcome news for strengthening the battery ecosystem in Europe.

The facility is expected to have an annual production capacity 50,000 tonnes of anode materials in a first phase that can be expanded to 100,000 tonnes during the second phase of the establishment. Construction is currently planned to begin in 2024 and if all permits are in place, the factory should be able to produce anode material for the Swedish battery manufacturer Northvolt’s batteries in 2025-2026.

The facility will be PTL’s first on in the EU and the fourth Asian sub-supplier with production in Sweden, showcasing the significance of localized supply chains.

It also demonstrates that the battery industry is an attractive sector for new investments that creates new job opportunities in the transition to electrification. In the first stage the factory is estimated to create around 1,900 jobs in a first stage.

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