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Northvolt set for €400m Swedish gigafactory loan

Fri, 05/10/2019 - 17:10 -- John Shepherd
Northvolt set for €400m Swedish gigafactory loan

The European Investment Bank (EIB) is set to approve a €400 million (US$450m) loan to help start-up Northvolt build a 16GWh capacity lithium-ion battery cell manufacturing plant in Sweden.

The loan to design, build and start operations at the gigafactory, which Northvolt estimates will cost a total of around €1.5 billion, is likely to get the green light when the EIB board meets on 15 May.

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