EnergyWatch

Northvolt raises USD 1 billion for Europe's first gigafactory

The factory, expected fully operational in 2021, will begin with a production capacity of 16 GWh of lithium-ion battery cells, according to Northvolt.

Photo: PR Northvolt

Europe's first lithium-ion battery cell producing gigafactory will be located in Skellefteå, Sweden, Northvolt announced at a press meeting in Stockholm. In its presentation, the energy company revealed that it has raised USD 1 billion in capital in conjunction with Goldman Sachs and Volkswagen.

Back in early 2018, Northvolt's ambition to boost European battery production was otherwise rumored to be dead in the water due to funding trouble. This crisis has now been averted by partnering with Volkswagen.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs