STOCKHOLM -- Swedish battery maker Northvolt said it will invest $200 million in a new energy storage systems factory in Gdansk, Poland.
The company said in a statement that the facility would be for the assembly of "cutting-edge, sustainable energy storage systems."
The new 50,000 square meter factory will be established in two stages with an initial output of 5 gigawatt hours and an estimated production start in 2022.
"Securing battery cell manufacturing capacity in Europe is key for its industrial future, but what is equally critical is the industrial capacity for integrating cells into real-world solutions," Northvolt CEO Peter Carlsson said in the statement.
"It is this that the new factory will deliver -- sophisticated, sustainable energy storage systems to support the transformation of Europe's electricity grid and its industry."
The company said the new plant, including a new engineering research and development center set up in conjunction, would create 500 new jobs in the Gdansk region.