Northvolt_Ett_press_kit
13th June 2019

Northvolt completes equity capital raise to enable Europe’s first homegrown gigafactories for lithium-ion batteries

The establishment of a complete domestic battery value chain in Europe is well on its way. Volkswagen Group and Goldman Sachs Merchant Banking lead a $1 billion equity capital raise in Northvolt alongside BMW Group, AMF, Folksam Group and IMAS Foundation. Combining this with the debt financing already set to be provided to the Swedish start-up, the construction of the initial 16 GWh of lithium-ion battery cell manufacturing capacity at the gigafactory, Northvolt Ett, in Sweden is enabled.

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