Swedish battery maker secures $1bn funding for Europe’s first ‘gigafactory’

  • Swedish start-up Northvolt Wednesday (12 June) announced it had secured funding.
  • In 2017 Northvolt announced plans for battery factory “Northvolt Ett”, to employ between 2000 to 2500 people and be located in Skelleftea, a coastal town in Sweden’s industrial north-east.
  • In May, Volkswagen already announced it would spend close to €1 billion building a factory for battery cells in Salzgitter.

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