Freyr Battery Shifts Strategy: Moves Headquarters to Texas and Scraps Georgia Battery Plant Plan

Freyr Battery

Freyr Battery has made a major strategic shift, cancelling its plans for a battery factory in Georgia and instead choosing to establish its new headquarters in Austin, Texas. The move aims to accelerate solar module production and align operations with the company's long-term growth strategy.

Freyr Sells Georgia Site and Focuses on Texas Expansion

Freyr decided to sell its 368-acre site in Coweta County, Georgia, for $50 million. Originally acquired in 2022, the Georgia site was intended for battery manufacturing, with a projected capital investment of up to $2.6 billion. However, the company has now chosen to concentrate its efforts in Texas, where it plans to focus on producing solar modules and other energy solutions made in the U.S.

A Shift in Strategy: Focus on U.S. Solar Production

In 2023, Freyr made the decision to redomicile from Luxembourg to the United States, attracted by the favorable tax incentives under the Inflation Reduction Act. This move aligns with Freyr's strategy to accelerate its U.S.-based operations, including its recent acquisition of a 5GW solar module manufacturing facility in Wilmar, Texas. The facility, purchased for $340 million from China’s Trina Solar, is expected to begin production in the second half of 2026.

This shift from battery manufacturing to solar module production reflects Freyr's commitment to the growing renewable energy market in the U.S. and its intention to expand its footprint in the clean energy sector.