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

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.