First homegrown European battery company to qualify as Tier One supplier

We are pleased to share another milestone for the European battery industry. Benchmark Mineral Intelligence has indeed just upgraded Northvolt to a Tier 1 supplier of batteries to the automotive market.

We count currently only nine companies ranked Tier 1 worldwide, of which seven are active in Europe. The fact that Northvolt is the first homegrown European company now qualifying as a Tier 1 supplier marks a significant achievement for the European battery industry. It is worth noting that Northvolt’s journey from a start-up company to a Tier 1 supplier with 170 GWh production capacity in the pipeline took only 5 years while also inspiring several other European initiatives that are now underway.

At EBA250, we look forward to a similar successful journey for these intitatives. While we naturally welcome non-European battery suppliers to Europe, we also recognise that engaging the European industry in seizing the opportunity brought by batteries has been one of the goals of the European Battery Alliance. Such achievements acknowledge that Europe is on the right track.

Source: Benchmark Mineral Intelligence

More information on Benchmark Mineral Intelligence Tier 1 status for EV lithium-ion battery output can be found on their website.