Freyr Battery Abandons $2.6 Billion Georgia Factory Plan, Scraps 700 New Job Opportunities
2025-02-07
Fortune
In a surprising move, clean-energy company Freyr Battery has announced it is canceling plans to build a $2.6 billion factory in Georgia, which would have created 700 new jobs and contributed to the state's growing renewable energy sector. The company had previously relocated its headquarters from Norway to Newnan, Georgia, to take advantage of tax benefits tied to President Biden's climate law, aiming to boost its sustainable energy solutions and carbon footprint reduction efforts. This decision may impact the local economy and the country's transition to green energy.
