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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.

1 min read
  • 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
The Swedish business with plans to build four gigafactories is a young company in a hurry
Financial Times

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