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Europe's largest battery factory - Northvolt receives multibillion-dollar order - Martin Sköld

Northvolt receives a large order for batteries from Volkswagen worth SEK 120 billion. At the same time, Volkswagen is increasing its stake in Northvolt and taking over a factory from the Swedish company.

Volkswagen, the world's second-largest automaker, is investing heavily in switching to electric power. In order to get access to more batteries for its upcoming electric cars, the company is now placing a large order with the Swedish battery manufacturer Northvolt.

Volkswagen orders batteries for 120 billion kroner ($14 billion) over 10 years. This means that Northvolt now has orders worth SEK 230 billion from several different customers, even though production at the company's new factory in Skellefteå has not yet started.

Post in Swedish.