The lithium factory was to be the largest in Europe – now Northvolt has dropped out

The Portuguese gas and oil company Galp has chosen to end its plans to build a lithium factory in Portugal together with the Swedish battery manufacturer Northvolt, writes Ekot.

The plant would produce 32,000 tons of lithium hydroxide for electric car batteries per year, which would be enough for battery cells with a combined storage capacity of 50 GWh. Start of the factory was planned for 2026, but earlier this year it was reported that the project was significantly delayed.

The plan was that the companies would each own 50 percent of the plant. According to information, it should have been an investment of approximately SEK 8 billion.

“The project in Portugal has only been at the planning stage. In line with our strategic review and focus on our core business, Northvolt therefore decided earlier this spring not to invest further in the project,”
writes Northvolt to the radio.

Galp has now announced that it is scrapping the entire project.

– The current situation and the fact that we cannot count on an international partner makes it impossible to continue with the project, announces Galp in a statement, writes Sifted.