Reported about 5 hours ago
Freyr Battery, a clean energy company, has canceled its plan to build a $2.6 billion electric battery factory in Newnan, Georgia, which was expected to create over 700 jobs. The decision comes as the company shifts its focus to a newly acquired solar panel plant in Texas, citing rising interest rates, falling battery prices, and changes in leadership as factors in the decision. The state of Georgia had granted a $7 million incentive for the project, and now efforts will be made to ensure that funding is repaid.
Source: YAHOO