Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Swedish company Northvolt, a producer of electric car batteries, has announced it will set up a new factory for electric car batteries with 3000 new jobs in the German town Heide (Schleswig-Holstein). The new factory Northvolt Drei is supposed to be up and running by 2025 and is set to produce battery cells for 1 million cars per year. It will also include a battery recycling facility. The company announced it has chosen Heide because of the direct availability of electricity from sustainable onshore and offshore wind parks. The German government announced that the project will be subsidised in the framework of the Important Projects of Common European Interest (IPCEI).
Eurofound (2022), Northvolt Drei, Business expansion in Germany, factsheet number 106458, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106458.