Shanghai Putailai New Energy Technology, one of Northvolt‘s most important suppliers, has signed an agreement with Torsboda Industrial Park. The agreement is part of a billion-dollar investment expected to create approximately 1,900 job opportunities in the initial phase at the Torsboda site, just outside Timrå and Sundsvall.
The cooperation is expected to accelerate the production of high-quality batteries at a lower cost, making them more accessible to consumers as the world transitions towards sustainable energy.
Details About the Deal
PTL will invest nearly SEK 13 billion (approximately $1,278 billion) in establishing Europe’s largest facility for producing anode materials. The company plans to complete the new facility by 2025-2026.
The facility in Torsboda will initially have the capacity to produce 50,000 tons of anode material, which will be doubled to 100,000 tons in the second phase to meet the anode demand for a battery production of 100 GWh.
Jan Larsson, CEO of Business Sweden, said that PTL had made an important investment in Sweden’s work towards the green transition. The investment is expected to contribute to the development of a sustainable and competitive battery industry in Sweden and the rest of Scandinavia.
Stefan Dalin, Chairman of Torsboda Industrial Park and the Municipal Board in Timrå, said this investment is just the beginning. He noted that the region now has a unique opportunity to become Europe’s hub for the green battery industry.
The Torsboda Industrial Park is a joint venture between the municipalities of Sundsvall and Timrå, with the municipality of Härnösand also involved in the investment. The site is a result of a joint effort to employ the region’s potential in green energy, infrastructure, logistics, and research and development.
Niklas Säwén, the vice chairman of the municipal board in Sundsvall, highlights the shared challenges of the three municipalities and emphasizes the importance of creating job opportunities, improving welfare and housing, and strengthening the social structure.
Säwén also said the Torsboda facility would generate significant benefits for the three municipalities and northern Sweden as a whole, including strong economic growth and increased tax revenue.