The U.S. Inflation Reduction Act has driven Swedish battery maker Northvolt to announce for a factory in Canada earlier than originally expected, in a concrete example of how Biden’s policy is influencing business decisions.

“It definitely played a role to accelerate our decision to expand into North America,” Paolo Cerutti, co-founder of Northvolt told CNBC.

“We always thought that we would want to do it at some point and at the beginning of last year, we really decided that this, this needed to happen faster.”

The U.S. Inflation Reduction Act has driven Swedish battery maker Northvolt to announce for a factory in Canada earlier than originally expected, in a concrete example of how Biden’s policy is influencing business decisions.

“It definitely played a role to accelerate our decision to expand into North America,” Paolo Cerutti, co-founder of Northvolt told CNBC.

“We always thought that we would want to do it at some point and at the beginning of last year, we really decided that this, this needed to happen faster.”