Northvolt Raises Money to Build Europe’s First Homegrown Gigafactories for Lithium-Ion Batteries

Volkswagen Group and Goldman Sachs Merchant Banking Division lead a $1 billion equity capital raise in Northvolt alongside BMW Group, AMF, Folksam Group and IMAS Foundation / With the European Investment Bank and additional lenders set to provide debt financing as a part of the total funding, the establishment of the initial 16 GWh of lithium-ion battery cell manufacturing capacity at the gigafactory, Northvolt Ett, in Sweden is enabled

Northvolt today announced the agreement of a $1 billion equity capital raise to enable the establishment of Europe’s first homegrown gigafactory for lithium-ion battery cells, Northvolt Ett, in Skellefteå, Sweden. In cooperation with the Volkswagen Group, the company also announced plans to establish a second gigafactory with an... ... More: Official Press Release Northvolt

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Northvolt, Lower Saxony, Germany, Sweden, battery, lithium-ion, storage, giagafactory, money, finances, Goldman Sachs, BMW