{"id":80287,"date":"2025-02-07T12:03:42","date_gmt":"2025-02-07T17:03:42","guid":{"rendered":"https:\/\/autosector.com\/?p=80287"},"modified":"2025-02-07T12:03:42","modified_gmt":"2025-02-07T17:03:42","slug":"1145697_freyr-battery-cancels-2-6-billion-georgia-battery-factory-plans","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=80287","title":{"rendered":"Freyr Battery cancels $2.6 billion Georgia battery factory plans"},"content":{"rendered":"

Norwegian battery firm Freyr has canceled plans for a Georgia factory that would have supplied batteries for energy storage<\/strong>.<\/p>\n

First reported by the Newman Times-Herald<\/a> of Newman, Georgia, Freyr confirmed plans to cancel the factory in a letter to the local Coweta County Development Authority dated Jan. 21, and in a Thursday meeting with the authority. Freyr also told the Georgia Department of Community Affairs that it would repay grants and incentives tied to the factory project.<\/p>\n

<\/p>\n

\"Rendering<\/p>\n

Rendering of proposed Freyr <\/p>\n<\/div>\n

Announced in November 2022<\/a> and branded “Giga America,”<\/strong> the factory would have sat on a 368-acre site in Coweta County, which is on the southwestern edge of the Atlanta metropolitan area.\u00a0Production was due to be stepped up in phases, starting with a $1.7 billion investment to build out 34 gigawatt-hours of annual production capacity. A second phase was to add more cell production lines and bring total investment to $2.6 billion by 2029<\/strong>.<\/p>\n

Rising interest rates, falling battery prices, and a change in leadership at Freyr all contributed to the decision, Jason Peace, the company’s senior vice president of business development, said in an interview with The Newman-Times Herald.<\/p>\n

Although oddly omitted in the original report, it’s hard to imagine that policies of the Trump administration pulling back on incentives for renewables wasn’t also a significant factor in this loss of potential Georgia jobs<\/strong>.<\/p>\n

\"Rendering<\/p>\n

Rendering of proposed Freyr <\/p>\n<\/div>\n

Freyr is also not on totally solid financial footing, the newspaper added. In its third-quarter 2024 financial results, the company reported a net loss of $27.5 million, compared to $9.8 million for the same period in 2023. Peace told authority members that Freyr had been burning cash to get the battery plant built, and was now looking at a nearly-finished solar-panel plant in Texas as an alternative, quicker way to generate revenue.<\/p>\n

Rivian, meanwhile, still appears to be moving ahead with plans for an EV assembly plant<\/a> about an hour from downtown Atlanta. The plant was announced in 2021 and originally scheduled to open in 2024, but Rivian then paused construction. As a result, the opening was first pushed back to 2027, and then 2028, with a $6.6 billion conditional loan<\/a> from the Department of Energy potentially helping get it across the line.<\/p>\n","protected":false},"excerpt":{"rendered":"

Norwegian battery firm Freyr has canceled plans for a Georgia factory that would have supplied batteries for energy storage. First reported by the Newman Times-Herald of Newman, Georgia, Freyr confirmed plans to cancel the factory in a letter to the local Coweta County Development Authority dated Jan. 21, and in a Thursday meeting with the […]<\/p>\n","protected":false},"author":1,"featured_media":80288,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[3],"tags":[],"class_list":["post-80287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-design-concepts"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/80287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80287"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/80287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/80288"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80287"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}