BRUSSELS, July 29 (Xinhua) -- The European Investment Bank (EIB) is investing 350 million U.S. dollars to support the financing of Sweden's Northvolt Ett, Europe's first home-grown gigafactory for lithium-ion battery cells, the bank said in a press release Wednesday.
Currently under construction in Skelleftea,northern Sweden, the new gigafactory has the potential annual output of 40 GWh and expects to achieve this goal by utilizing 100 percent renewable energy within its production processes.
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