Economic policy - Northvolt settlement: State parliament adopts supplementary budget
The Schleswig-Holstein state parliament has approved financial support for the establishment of the Northvolt battery factory in a supplementary budget. "Following the ruling by the Federal Constitutional Court and the new report by the scientific service of the state parliament, we now know that there is no violation of the constitution," said CDU parliamentary group leader Tobias Koch in Kiel on Friday.
The state is therefore providing 137 million euros for the construction of the factory. The support from the federal and state governments for the relocation is paying off, as Northvolt has already started construction in reliance on these promises, Koch continued.
The Swedish company Northvolt plans to manufacture battery cells for electric cars in a factory near Heide from 2026. The 4.5 billion euro investment is expected to create 3,000 jobs. The company has already invested around 100 million euros of its own funds in the construction project in Heide, according to sources close to the project.
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- The approval of the supplementary budget by the Schleswig-Holstein state parliament signifies significant financial support for the establishment of Northvolt's battery factory in Schleswig-Holstein, which aligns with the state's economic policy.
- Tobias Koch, the CDU parliamentary group leader, expressed his satisfaction with the Federal Constitutional Court's ruling and the new report from the state parliament's scientific service, stating that there is no violation of the constitution in this case.
- The Federal Constitutional Court's approval and the upcoming establishment of Northvolt's factory near Heide are expected to attract foreign investments, as Northvolt, a Swedish company, has already invested around 100 million euros in the construction project and plans to manufacture battery cells for electric cars, creating approximately 3,000 jobs.
- The Schleswig-Holstein state parliament's adoption of the supplementary budget and the support from the federal and state governments have helped Northvolt to move forward with its plans, which are crucial for the state's economic growth and job creation.
- The construction of the Northvolt battery factory is an essential step in the implementation of the state's economic policy, with Tobias Koch praising the involvement of both the federal and state governments and Northvolt in this venture, which will contribute to the region's economic development.
Source: www.stern.de
