The closing of the transaction is expected to take place during the first half of 2022.

Prices for battery-grade lithium carbonate in China jumped this year to a record high.

The latest output cuts come soon after curbs at Europe’s top smelter, highlighting supply risk into next year and beyond.

The 10-day strike would affect operations at over 200 companies in Finland.

The aluminium plant will cut its output to around 60% of capacity in response to high electricity costs.

While aluminum prices have rallied more than 40% this year, profitability is being eroded by the far greater surge in power prices.

Northvolt will rival the likes of Tesla and Asian battery makers such as Panasonic, LG Chem and CATL.