Tax & Spend
Germany Grants €700 Million for Northvolt Despite Budget Freeze
- Economy Ministry secured exemption as project was in jeopardy
- ‘This is only a first step’, Vice Chancellor Habeck says
This article is for subscribers only.
Germany will pay out €700 million ($762 million) to ensure a battery plant gets built after officials won an exemption from the government’s spending freeze.
The commitment for a Northvolt AB factory is the first granted for a project planned under a special fund for climate transition since a court ruling blocked the financing of that off-budget vehicle.