Northvolt raises US$1 billion for Europe’s first gigafactories

Northvolt has raised US$1 billion of capital to build Europe’s first homegrown gigafactory for lithium-ion battery cells – Northvolt Ett, in Skellefteå, Sweden. At the same time, in cooperation with the Volkswagen Group, the company also announced plans to establish a second gigafactory with an intended location in Lower Saxony, Germany. The news of both factories was announced on 12 June 2019.

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