The TL;DR is that the former head of supply chain of Tesla (who is Swedish) is trying to get funding to build a lithium-ion battery plant in Scandinavia. Largely because Europe doesn't have one and is reliant on Asian countries for their batteries (so he's seeking a kind of European energy independence).
He believes he can use minerals from mining operations in Finland as resources and local hydro/wind sources to power it.
The biggest hurdle is getting funding - it's expensive - but he does have initial phase backing from a few sources, including the state-owned utility service Vattenfall.
They are mainly looking to just provide for Europe and not challenge Tesla in the American market.