Northvolt raises USD 2.75bn, ups capacity by 20 GWh

A series of pension funds have invested USD 2.75bn in Northvolt. The new funds will be used to scale up the factory in Skellefteå, Sweden, to 60 GWh.
Factory Northvolt Ett in Skellefteå, Sweden, will not produce batteries until later this year. But it's already been up-scaled to 60 GWh. | Photo: PR / Northvolt
Factory Northvolt Ett in Skellefteå, Sweden, will not produce batteries until later this year. But it's already been up-scaled to 60 GWh. | Photo: PR / Northvolt

As electric vehicles take to European roads, batteries are needed. And lots of them.

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