Freyr Battery cancels $2.6B Georgia battery factory plans [Yahoo! Finance]
FREYR Battery, Inc. (FREY)
Company Research
Source: Yahoo! Finance
Dive Brief: Freyr Battery called off plans to build a $2.57 billion battery cell manufacturing plant in Newnan, Georgia, saying the facility is no longer part of its “strategic goals,” the Norway-based company said in a letter last month to Coweta County officials Initially announced in 2022, the facility would have created 723 jobs with first-phase production of approximately 34 gigawatt hours, according to an initial project announcement The decision to scrap the Newnan plant comes a month after Freyr acquired Trina Solar's 5-gigawatt solar module manufacturing facility in Wilmer, Texas, as it pivots to establish a commercial presence in the U.S. solar market, according to a November 2024 presentation Dive Insight: Trina Solar announced it was investing more than $200 million to establish the Wilmer plant in September 2023 . About a year later, global banking company Standard Chartered secured a $235 million green loan to finance the development and construction of the
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