BRUSSELS/HEIDE (dpa-AFX) - The Swedish company Northvolt has expressed its delight at the EU Commission's approval of subsidies for the construction of a battery factory in Schleswig-Holstein. "The EU Commission's positive state aid decision is not only groundbreaking for Northvolt's settlement project in Heide, but for the European battery cell industry as a whole," said a company spokesperson on Monday. "We are now waiting for the municipal decisions as part of the ongoing land-use planning process."

The EU Commission previously approved the planned funding for the billion-euro project. Northvolt plans to manufacture battery cells for electric cars in a factory in the Dithmarschen district from 2026. The 4.5 billion euro investment is expected to create 3,000 jobs. The federal and state governments are supporting the project with around 700 million euros. There are also guarantees for a further 202 million euros./akl/DP/men