- Freyr Battery is set to develop battery cell production capacity in Finland.
- The company has signed MoUs to this effect.
- Freyr plans to develop an 83GWh battery cell production capacity by 2028.
Norwegian battery cells developer Freyr Battery has signed two memoranda of understanding (MoUs) to develop a battery cell production facility in Finland. The first MoU with Finnish Minerals Group will see the company provide components for battery production and develop a lithium-ion battery value chain in Finland.
The second MoU is with the city of Vaasa will see the city provide 90 hectares (222 acres) for Freyr to construct its battery cell plant. Both parties will jointly develop the site under the agreement.
Freyr’s has set to develop up to 43GWh of battery cell production capacity by 2025 and 83GWh by 2028. Last month, the company decided to fully proceed with investment in constructing its first battery cell production line in Mo i Rana, Norway.