November 19, 2022: Freyr Battery has purchased a site in the US state of Georgia to build its planned ‘Giga America’ battery cell manufacturing plant, the company said on November 11.
Norway-based Freyr said the initial planned capital cost of the first phase of the Bridgeport Industrial Park plant is $1.7 billion.
The first phase of the project has an annual production capacity of around 34GWh.
The developer of lithium battery cells said it is also reviewing plans for additional production lines at the site that will bring total capex investment to more than $2.6 billion by 2029.
Co-founder and CEO Tom Einar Jensen said the project “underpins Freyr’s ambition to develop a very strong and near-term operational footprint in the US”.
“Expansion in the US has been a fundamental aspect of Freyr’s long-term strategy since our inception, and with the recent passage of the Inflation Reduction Act, we expect US demand for ESS, passenger EVs and other more electric mobility applications that will grow rapidly over the next decade.”
Freyr announced on May 18 that it has signed a land lease agreement for a battery cell development and production site in Finland.
Last month, the company said it was strengthening its supply chain with an agreement for Japan’s Itochu Corporation to become a direct supplier of materials.
