Volkswagen Group confirmed that it placed a new order for $14 billion worth of battery cells from Northvolt’s Swedish gigafactory, and it is taking a bigger stake in the battery manufacturer.
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Northvolt has secured $1.6 billion in debt financing as it completes its massive battery factory and signs a battery supply contract with BMW.
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Swedish startup Northvolt, who secured massive backing from VW, has unveiled its own stationary energy storage solution to compete with Tesla Powerpack and Megapack. Expand
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VW is reportedly paying less than $100 per kWh for the battery as it is trying to secure battery cell supply for its ambitious electric vehicle plans through a mix of supply deals and making its own cells at a new battery gigafactory with Northvolt. Expand
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Northvolt, a battery startup founded by two former Tesla executives, announced a $1 billion equity capital raise for its battery gigafactory in Sweden, in addition to a planned 50/50 joint venture with Volkswagen on another gigafactory in Germany.
Volkswagen partners with Northvolt, a battery production startup founded by a former Tesla executive, to create a new consortium to advance batteries for electric vehicles in Europe. Expand
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Northvolt, a battery manufacturing company started by two former Tesla supply chain executives, is announcing a new battery module factory in Europe. Expand
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Northvolt has been lining up some impressive partners to help them built their ambitious project of a large battery gigafactory in Europe.
German engineering firm Siemens is the latest to jump on board with a new investment and partnership. Expand
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Northvolt, a company founded by two former Tesla executives who broke out on their own to build a battery gigafactory in Europe, has been making a lot of moves and partnerships lately.
Now, the duo has began construction on the first phase of its planned battery gigafactory. Expand
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Northvolt, a company founded by two former Tesla executives who broke out on their own to build a battery gigafactory in Europe, seems to be in motion.
After receiving backing from VW’s Scania last month, Northvolt has now secured a $68 million loan to build a demonstration battery line for its own battery factory. Expand
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The two former Tesla executives that broke out on their own to build a battery gigafactory in Europe have just secured backing from Volkswagen through their Scania division.
The two companies will develop and commercialize battery cell technology for heavy commercial vehicles at their facilities. Expand
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Two former Tesla executives broke out on their own to build a battery gigafactory in Europe. After launching their fundraising effort and partnering with ABB, they now announced the location of the factory in Sweden. Expand
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Earlier this year, we reported on Northvolt, a startup founded by Tesla’s former Vice President of Supply Chain Management, Peter Carlsson, and another former Tesla supply chain executive, Paolo Cerruti, to build their own battery gigafactory in Europe.
After launching their fundraising effort to finance the factory last month, they are now bringing on board an important partner, ABB, a giant Swiss company developing electrification products and industrial automation systems. Expand
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Earlier this year, we reported on Tesla’s former Vice President of Supply Chain Management, Peter Carlsson, launching a new startup called Northvolt with another former Tesla supply chain executive, Paolo Cerruti, to build their own battery gigafactory.
They are now reportedly about to close their first major round of financing to bring the factory into reality. Expand
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