EU Commission approves millions in aid for Northvolt factory. "To prevent an investment from being relocated to a country outside Europe": Germany is allowed to fund the construction of a battery factory by Northvolt in Schleswig-Holstein with around 900 million euros. The 4.5 billion euro investment is expected to create 3000,100 jobs. Northvolt wants to produce battery cells for electric cars in a factory in the district of Dithmarschen from 2026. In addition to Heide, there are locations in the USA and Canada to choose from.
The SPD is presenting a concept for subsidizing the price of electricity for industrial companies. The proposal reportedly calls for five cents for at least five years. The difference to the average exchange electricity price, which is currently around 8.95 cents, is to be paid by the state. Chancellor Olaf Scholz is also expected to attend the consultations in the Hessian capital of Wiesbaden, where the consultations will take place. The FDP rejects an industrial electricity price and an opening of the Economic Stabilisation Fund.
Large orders from abroad brought a surprising increase in orders to German industry in June. But economists still do not see a trend reversal in the economy. The strong growth in orders is not yet reflected in sales: real sales in the manufacturing sector were 1.6 percent lower in June than in the previous month. The picture is also less good when looking at the second quarter as a whole: From April to June, orders increased by only 0.2 percent compared to the previous period, according to the Federal Statistical Office.