Norwegian battery manufacturer FREYR has signed a supply deal with Japan-headquartered Nidec, the world’s largest manufacturer of high-efficiency electric motors and global leader in energy storage systems (ESS). As part of the binding agreement, FREYR will supply Nidec with 38GWh of cells from 2025 to 2030 with the option to increase volume to 50GWh within the contracted period. FREYR estimates the deal represents over USD3 billion in value and will help finance the construction of the Giga Arctic facility in Mo i Rana, Norway. The new development plans to be operational by 2024 with 50% of the total planned 29GWh production capacity dedicated to supplying Nidec with clean battery cells.
Nidec will use the semi-solid lithium-ion batteries in its ESS solutions. The strategic partnership also incorporates a joint venture (JV) between the two companies to establish a downstream development and manufacturing operation of low-carbon battery modules and packs. The JV will begin production…
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Image Credit: FREYR