EnergyWatch

Northvolt raises USD 600m for realizing battery plants

Swedish battery maker Northvolt has received a capital injection of USD 600 million, raised in a financing round led by Baillie Gifford, Goldman Sachs and Volkswagen.

Northvolt Ett in Skellefteå, Sweden, will have a capacity of 32 GWh by 2024, according to Northvolt. | Photo: PR / Northvolt

If you're looking for a finished Northvolt battery factory, there are still only graphical renditions available, as Northvolt Ett in Skellefteå, Sweden, won't have its first stage ready until next year.

And construction on Northvolt Zwei in Salzgitter, Germany, won't even begin until next year. Still, the Swedish battery outfit is thinking about the next step and has now raised USD 600 million in a financing round led by Baillie Gifford, Goldman Sachs and Volkswagen.

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