Volkswagen invests another €500Mn in Northvolt
Volkswagen is investing another 620 million dollars, or about half a billion euros, in its battery cell partner Northvolt. The funding is part of a $2.75 billion private placement that the Swedish company announced today alongside news on production capacity increases.
Revolt: Northvolt enters battery recycling
The Swedish company Northvolt, managed by former Tesla manager Peter Carlsson, will dedicate itself not only to the planned mass production of battery cells but also to recycling them with the Revolt programme now presented.
Sweden backs Northvolt battery pilot plant with €15m
Northvolt has found a new backer for setting up a battery cell production pilot plant. The Swedish Energy Agency will support the demonstration line, Northvolt Labs, in Västerås with a grant of SEK 146m. The new line precedes a planned Swedish Gigafactory.