The increasing demand of electric vehicles is challenging the battery production industry. Most of the electric vehicle batteries are currently manufactured in Asia. European car manufacturers have expressed their interest to build local battery manufacturing capabilities.
However, the already planned new European battery facilities to be established will not be enough to meet the demand in Europe.
Finland is the only significant European producer of raw materials for electric vehicle batteries. In fact, Finland has the potential to produce annually materials for the batteries of over 500,000 vehicles depending on the battery chemistry. There is a great opportunity to establish full value chain all the way from raw materials to cell production in Finland.
Realizing of our mission and vision requires strong coordination. The objective of our battery operations is to create partnerships, aiming to establish an electric vehicle battery value chain in Finland.
Thanks to its mineral resources, Finland has unique opportunities in lithium ion battery value chain on the European level. Together with our partners, we strive to utilize this potential and bring cathode active material and cell production to Finland.