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NorthVolt starts biggest fundraising for USD 4 billion battery plan

The Swedish battery factory developer founded by a former Tesla executive plans to soon close its first major round of fundraising. NorthVolt has previously raised about USD 14 million and its investors include Sweden's largest utility Vattenfall.

NorthVolt AB, the Swedish battery factory developer founded by a former Tesla Inc. executive, is planning to close its first major fundraising round this autumn, potentially drawing in EUR 100 million (USD118 million).

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