Volvo Car Group and Northvolt to join forces in battery development and production
Volvo Car Group intends to establish a joint venture with leading Swedish battery company Northvolt to develop and produce more sustainable batteries, tailored to power the next generation of pure electric Volvo and Polestar cars.
Northvolt raises $2.75 billion in equity to deploy further battery cell capacity – expands Swedish gigafactory to 60 GWh
Northvolt today announced the signing of a $2.75 billion private placement to finance further battery cell production capacity and R&D efforts in order to meet the increasing demand of customers engaged in the transition to decarbonized, electric solutions.
Northvolt to supply Pon Equipment with battery systems for electrification of construction equipment.
-Northvolt to supply battery systems for the electrification of Pon Equipment engineered Z-line excavators, with an initial delivery of 90 systems. - Electrified excavators to be delivered to selected customers beginning spring 2021. - The Z-line 310 and Z-line 320 meet increasing demand for zero-emission construction equipment.
Northvolt receives $14 billion battery cell order for Swedish gigafactory from Volkswagen
Northvolt and Volkswagen today unveiled the next step in the partnership between the two companies. The collaboration will place a greater focus on Northvolt’s gigafactory in Sweden, which will be further expanded to support a combined order worth more than $14 billion as Northvolt is selected by Volkswagen Group as a strategic lead supplier for premium battery cells in Europe.
Northvolt acquires U.S. battery technology company Cuberg to commercialize next-generation battery cells for electromobility
Northvolt today announced the acquisition of Cuberg, Inc., a U.S.-based battery technology company delivering high-performance lithium metal cells produced on existing lithium-ion manufacturing lines for electromobility solutions.
Northvolt expands operations in Poland to establish Europe’s largest factory for energy storage solutions
Northvolt’s vision of enabling the future of energy takes a new step forward through a $200 million expansion of its battery systems capabilities in Gdańsk, Poland. Entering production in 2022, a new factory will have an initial annual output of 5 GWh, and a potential future capacity of 12 GWh.
Northvolt raises $600 million in equity to invest in capacity expansion, R&D and giga-scale recycling
Northvolt today announced the signing of a $600 million private placement, led by Baillie Gifford, Goldman Sachs Merchant Banking Division and Volkswagen Group, enabling the company to make further investments in expanding its production and recycling capacity as well as R&D activities to support the target of establishing 150 GWh of manufacturing capacity in Europe by 2030.
Northvolt raises $1.6 billion in debt financing through consortium of global financial institutions
Northvolt today announced the signing of a $1.6 billion debt raise provided by a consortium of commercial banks, pension funds and public financial institutions, increasing the total amount of capital raised to date for development of factories and R&D investments to over $3 billion.
BMW Group signs long-term supply agreement for battery cells with Northvolt
In pursuit of expanding its offering of electromobility solutions, the BMW Group has signed a long-term supply contract worth 2 billion euros for battery cells with Northvolt. The battery cells will be produced from 2024 at Northvolt Ett gigafactory, currently under construction in Skellefteå, northern Sweden.
Northvolt and Hydro launch joint venture to enable electric vehicle battery recycling
• Hydro and Northvolt establish a joint venture, Hydro Volt, to harness recycling synergies between battery and aluminum industries • Hydro Volt aims to leverage the advanced Norwegian market for electric vehicles to secure sustainable feed of battery materials • Joint recycling hub to start operations in Norway in 2021
Northvolt launches recycling program targeting 50 percent recycled material in new cells
- Northvolt’s recycling program – Revolt – will establish its first pilot recycling plant in Västerås, Sweden, in 2020 - A full-scale recycling plant at Northvolt Ett gigafactory in northern Sweden will be established by 2022 - As recycling capacity ramps up, Northvolt is targeting 50% recycled material in new cells by 2030
Northvolt completes equity capital raise to enable Europe’s first homegrown gigafactories for lithium-ion batteries
Northvolt today announced the agreement of a $1 billion equity capital raise to enable the establishment of Europe’s first homegrown gigafactory for lithium-ion battery cells, Northvolt Ett, in Skellefteå, Sweden. In cooperation with the Volkswagen Group, the company also announced plans to establish a second gigafactory with an intended location in Lower Saxony, Germany.