Chinese company Shanghai Putailai (PTL) will not proceed with its plans to build an anode factory in Timrå, Sweden. The project involved an investment of just under 1.3 billion US dollars and was planned to reach an annual capacity of 100,000 tons of anode material. According to the company, this would have been enough for a battery capacity of approximately 100 gigawatt-hours per year. The plant was first announced in May 2023.
Delays caused by regulatory review
When PTL entered into the original agreement, Swedenʼs foreign direct investment review law was not yet in effect. PTL claims that the subsequent review by the Swedish Strategic Products Board (ISP) led to significant delays which changed the economic environment to such an extent that the planned investment was no longer feasible. As a result, PTL and Torsboda Industrial Park have terminated the land transfer agreement.
Examining alternatives
According to a joint statement, there are no further obligations between PTL and Torsboda. At the same time, PTL will support Torsboda Industrial Park as a technology partner in examining alternatives. This could involve the continuation of the project as a whole or in parts with another company. Whether PTL will realize the project at another location is not yet known.
Source:
https://www.ptlsverige.se/post/ptl-avslutar-markavtal-f%C3%B6r-anodfabrik
