VW orders $14 billion worth of battery cells from Northvolt’s gigafactory, takes bigger stake
March 16, 2021
Volkswagen Group confirmed that it placed a new order for $14 billion worth of battery cells from Northvolt’s Swedish gigafactory, and it is taking a bigger stake in the battery manufacturer.
Northvolt is a battery startup founded by two former Tesla executives who worked on Tesla’s Gigafactory 1 in Nevada with Panasonic.
The Swedish startup received investments from several companies…