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Northvolt’s $1bn battery boost as VW partnership unveiled

Fri, 06/14/2019 - 16:19 -- John Shepherd
Northvolt’s $1bn battery boost as VW partnership unveiled

Battery manufacturing start-up Northvolt has raised US$1 billion for its planned Swedish gigafactory project­­­— and has revealed it will build a second such facility in Germany in partnership with Volkswagen.

Northvolt said the equity capital raise for the lithium-ion battery cells plant at Skellefteå had been led by VW and Goldman Sachs Merchant Banking Division, alongside BMW, AMF, Folksam Group and IMAS Foundation.

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