Sweden’s Northvolt, the lithium-ion battery maker is reviewing its plan to build a new plant in central Sweden, Reuters reports.
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It comes after Swedish business daily newspaper Dagens Industri reported the firm was cancelling the project.
Northvolt said it has not ‘reached any decisions’ and it was conducting a strategic review of the site, in Borlange.
A spokesperson told Reuters that discussion is still ‘ongoing’: “We will return with further comments when a decision has been made.”
In 2022, the firm said it had agreed to buy an old paper mill in Borlange to turn into a new gigafactory.
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By GlobalDataIt cited a potential annual production capacity of over 100 gigawatt-hours (GWh) of cathode material.
It also said the plant would play a key role in fulfilling over $50 billion in orders from key customers and start the first part of its operations in late 2024.
Northvolt has one battery plant in operation in northern Sweden.
It also has a plant under construction in Germany, with an additional $5 billion plant being planned in Canada.
