Freyr, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.”
The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5-billion) project in northern Norway. But it already sees the scope for as many as four more factories in its home country, and said battery producers could develop at least twice as many across the Nordic region, home to plenty of empty space and clean energy, within the next two to three decades.