FREYR said June 11 that FREYR and the unnamed company had started negotiating a draft non-binding memorandum of understanding (MoU) for a potential joint venture to be formed to build a gigafactory and potentially related facilities that could have a production capacity of up to 50 GWh/year by 2030.
As part of the negotiations, FREYR and the unnamed JV partner exchanged draft terms outlining the key commercial points of the potential joint venture in May, but have not yet agreed in principle on many key terms of the JV, including economic and investment terms.
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