Mineral-rich Finland is ready to supercharge battery production in Europe
The EU Battery Alliance is calling for 10-20 giga battery factories to be established in Europe in response to the fast-growing demand for batteries in the electric vehicle market and other sectors. Finland offers a prime location for battery component and cell manufacturing thanks its unique combination of natural resources, world-class expertise and attractive business environment.
Reliable source of critical raw materials
Finland is already a significant producer of battery minerals and chemicals, and the only country with cobalt mining in Western Europe. Finnish company Freeport Cobalt is the only producer outside China supplying the cobalt chemicals used in lithium-ion batteries.
Finnish companies Terraframe, Keliber and Nornickel are currently expanding the production of nickel, cobalt and lithium. Mineral and chemical production in Finland is conducted in accordance with robust environmental regulations and stringent sustainability principles.
Expertise across the battery production value chain
Finnish companies offer competitive concepts and know-how across the whole battery production value chain, with world-class expertise in chemistry, processing, engineering and energy. As one of the most innovative countries in the world, Finland is also great place for testing and piloting the new generation of electric and electrified vehicles and machines that will be running on battery power.
Consistently ranked among the best business environments in the world, Finland is known for its highly educated workforce, reliable infrastructure and for taking a leading role globally in areas like the digital transformation, sustainability and bioeconomy.
More reasons to set up battery manufacturing in Finland
• As a member of European Union and the eurozone, Finland offers an excellent gateway to the European markets, with excellent sea and railway logistics.
• Companies operating in Finland enjoy a stable and predictable business environment along with one of the lowest corporate tax rates in Europe (20%).
• Finland has world-renowned expertise in process technologies, along with the engineering talent needed in highly automated and efficient industrial operations. Finland’s world-class education system and engineering talent has already attracted many leading global companies across different sectors to set up operations in Finland.
• Most of Finland’s electricity production is CO2 free, and with 99,9997% transmission reliability in 2017, Finland has one of the most reliable power grids in the world. Thanks to its cool northern climate, long coastline and thousands of lakes, Finland also has an abundance of the cooling power that is often required in industrial processes.
• Finland is the happiest, most stable and best-governed country in the world, according to a recent United Nations study. Finland is also among the least corrupt and the most socially progressive countries, having the world’s most trusted police force and the soundest banks.
From minerals to battery cells and packs
Battery production consists of four key phases. The first phase focuses on mining the key minerals, such as cobalt, lithium, nickel and graphite, along with refining these minerals into the relevant chemical compounds. In the second phase, these battery chemical compounds are manufactured into battery component materials, such as anode and cathode materials. The third phase focuses on combining the anode and cathode materials with electrolytes, separators and other necessary components to build battery cells. Finally, in the fourth phase the individual battery cells are assembled into battery packs and equipped with the necessary battery management technologies.