Norwegian battery start-up Freyr is forming a module and pack joint venture with Japan’s Nidec Corp., and is boosting a previously closed conditional offtake deal with the electric motor giant and converting it into a binding sales agreement.
Freyr as part of the deal will supply 38GWh of lithium-ion battery cells from 2025 to 2030, with an option to upsize the volume to 50GWh in the period, and even increase deliveries beyond 2030. The Norwegian firm previously had announced a 31GWh conditional offtake agreement with Nidec.
Freyr and Japan’s Nidec form ‘largest JV for low-carbon energy storage’ and firm $3bn offtake deal
