Northvolt raises USD 1 billion for Europe's first gigafactory

The factory, expected fully operational in 2021, will begin with a production capacity of 16 GWh of lithium-ion battery cells, according to Northvolt.
Photo: PR Northvolt
Photo: PR Northvolt

Europe's first lithium-ion battery cell producing gigafactory will be located in Skellefteå, Sweden, Northvolt announced at a press meeting in Stockholm. In its presentation, the energy company revealed that it has raised USD 1 billion in capital in conjunction with Goldman Sachs and Volkswagen.

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