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Northvolt may delay German battery factory over energy costs, CEO tells newspaper

BERLIN, Oct 28 (Reuters) - Northvolt may build its battery factory in northern Germany later than planned, Chief Executive Peter Carlsson told the Frankfurter Allgemeine Sonntagszeitung, citing a sharp rise in energy prices as part of the reason for the possible delay.

“We want to continue to be a European champion and market leader,” Carlsson said in the interview to be published on Sunday, adding: “But we are now at a point where we may prioritize expansion in the U.S. over Europe first.”

Sweden-based Northvolt, whose biggest owner is Volkswagen AG , said in March that it had signed a memorandum of understanding with Schleswig-Holstein state and the Heide region for the development of the factory, and that it expected it to produce its first batteries in late 2025. (Writing by Miranda Murray; editing by Matthias Williams)

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