Switzerland's ABB joined Sweden's Northvolt to build Europe's largest lithium ion battery factory in Sweden, Northvolt announced late on Tuesday.
ABB signed a memorandum of understanding (MOU) with Northvolt for a wide-ranging supply and technology partnership. This alliance will include products and services for Northvolt's state of the art lithium ion battery factory as well as close collaboration on the development of battery solutions.
The factory in Sweden will supply European customers in the automotive and key industries with high quality and customizable battery solutions.
The factory is expected to start production in 2020.
A demonstration-line will be ready by 2019 and will allow Northvolt to continuously optimize products and processes.
"We are excited to support Northvolt's project to build the battery factory of the future here in one of our home countries," said ABB CEO Ulrich Spiesshofer.
"This uniquely integrated factory would be a true showcase for ABB's leadership in industrial automation and smart electrification and would help to meet the ever-increasing demand for smarter, greener storage solutions," he added.
Northvolt's CEO Peter Carlsson said, "We want to enable this transition by building the largest, cutting-edge lithium-ion battery factory on the European continent and produce the world’s greenest batteries. ABB is at the forefront of the electrification, and we are delighted to have them onboard as strategic partner, key supplier and investor."
(Anadolu Agency)
