Northvolt closes funding round with $1 billion cash boost for northern Sweden hub

Located in Skellefteå, on the north-eastern coast of Sweden, the building will undergo construction this August and is expected to begin production of the 16 Gigawatt hours (GWh) batteries in 2021. The gigafactory, named Northvolt Ett, is expected to eventually manufacture 32 GWh batteries.

“Today is not only a great milestone for Northvolt, it also marks a key moment for Europe that clearly shows that we are ready to compete in the coming wave of electrification, and that we will do so using battery cells which carry the lowest…
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