- Stockholm-based battery maker Northvolt seeks $5bn financing to become Europe’s regional champion for electric vehicle battery manufacturing.
- Northvolt aims to reach 60 GWh of output by 2026, then on to 250GWh.
- The business has locked in $55mn of sales agreements with BMW, Volkswagen, Volvo Cars and Scania trucks.
- It plans to build four gigafactories, each producing about 60GWh a year.
Northvolt: battery maker’s volting ambition needs heavy backing
Swedish battery maker Northvolt seeks $5bn financing to become Europe’s electric vehicle battery manufacturing champion, aiming to reach 60 GWh of output by 2026.