Swedish battery company Northvolt said on Wednesday that a so-called cigar factory, the first of its kind on the continent to be operated by a European company, has opened in the country.
The factory in the Swedish town of Schellefteo last night produced the first battery for electric cars, according to Northvolt.
When the plant reaches full production capacity, it will be able to produce enough batteries to equip one million electric cars a year.
The US electric car manufacturer Tesla will also soon open its first plant in Europe, and its Asian competitors have significant plants in Poland and Hungary, but so far no European company has had a plant as large as this one.
Founded in 2016, Northvolt has already won orders worth 26.5 billion euros from European carmakers, including BMW and Volkswagen in Germany, and Volvo in Sweden, with which the company plans to build a second plant in Europe.
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