Sweden’s Northvolt raises $2.8 bln to supercharge EV battery output – Reuters
- Date: 09-Jun-2021
- Source: Reuters
- Sector:Transport
- Country:Middle East
Sweden’s Northvolt raises $2.8 bln to supercharge EV battery output – Reuters
Lithium-ion battery maker Northvolt has raised $2.75 billion in equity to expand capacity at the factory it is building in northern Sweden to meet increasing demand for electric cars.
Northvolt said the private placement, one of the biggest in Europe, was led by four Swedish pension funds and OMERS Capital Markets, alongside existing investors Goldman Sachs and Volkswagen, with other shareholders also participating.
The latest fundraising values Northvolt at $11.75 billion, a source familiar with the matter said.
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