Northvolt AB is a Swedish battery developer and manufacturer, specializing in lithium-ion technology for

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History

The company was founded as SGF Energy in 2015 by Peter Carlsson (now chief executive), who was formerly an executive at Tesla Motors. In 2017, the company changed its name to Northvolt. It was founded with the aim to supply the

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with

electric vehicle batteries An electric vehicle battery (EVB, also known as a traction battery) is a rechargeable battery used to power the electric motors of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV). Typically lithium-ion batteries, they are sp ...

. In May 2019, the

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offered a loan of 3.5 billion SEK (about €350 million). Maroš Šefčovič, the

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at the time, said that "I welcome the significant support proposed by the EIB to Northvolt gigafactory as a stepping-stone towards building a competitive, sustainable and innovative value chain, with battery cells manufactured at scale, here, in Europe." In June of the same year, companies such as the BMW Group,

Volkswagen Group Volkswagen AG (), known internationally as the Volkswagen Group, is a German multinational automotive manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. The company designs, manufactures and distributes passenger and commercial ...

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and

Folksam Folksam is one of the largest insurance companies in Sweden. The company headquarters are located in Stockholm. Folksam consists of the two mutual insurance companies Folksam sak and Folksam liv. Folksam is today a Swedish insurance company only, a ...

announced that they would invest in the company. In total, the investments amounted to 1 billion US dollars, framed as a way to challenge what was reported as the dominance of Tesla, Inc. and Asian companies such as Toyota and

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on the market for electric vehicle batteries. The company started building a battery factory in Skellefteå, Sweden, with the aim to start production of

in 2021. The first battery in Skellefteå was assembled in December 2021, and the production for commercial uses is planned to start in 2022. In 2019, Volkswagen and Northvolt announced that a second factory would be built in Salzgitter, Germany, aiming to start production in 2023–2024. The aim was to start production at 16

GWh A kilowatt-hour (unit symbol: kW⋅h or kW h; commonly written as kWh) is a unit of energy: one kilowatt of power for one hour. In terms of SI derived units with special names, it equals 3.6 megajoules (MJ). Kilowatt-hours are a common bil ...

, and increase it to 24 GWh. In May 2020, Volkswagen announced that it would build the factory largely on its own, and invest 450 million euros in the construction. On 16 July 2020, it was announced that Northvolt and BMW had signed a deal of 2 billion euros, for Northvolt to deliver batteries starting from 2024. On 30 July 2020, a €350 million loan was issued to Northvolt by the

with the backing of the European Union’s InnovFin programme to build a demonstration line for a new type of battery which it started producing at the end of 2019. As part of the ''Investment Plan for Europe'', Northvolt received a $350 million loan for its Skellefteå factory from the EIB, using the guarantee of the European Fund for Strategic Investments. News website EURACTIV stated in an article that "Northvolt is quickly building a reputation as the EU’s go-to company for home-grown batteries." On the same day, it was announced that Northvolt had been issued loans amounting to $1.6 billion USD from a consortium of commercial banks, pension funds and other financial institutions.

Manufacturing sites

Northvolt has a factory in Skellefteå, northern Sweden, part of Northvolt's plan to increase production capacity of 32 gigawatt-hours by 2023. Its headquarters for research and development is in Västerås, Sweden. Northvolt Ett juni 2021

The opening of a factory in Skellefteå was said to potentially transform

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Sweden, and dramatically change the city. It was however said that it could be a potential risk with shortage of qualified labour in the region. The factory will be the largest in Swedish history, creating challenges for newcomers and the existing community. As the energy-hungry battery plant is strategically sited near renewable energy sites, part of the company's stated goal to make "the greenest cell on Earth". In late December 2021, the company announced that the Skellefteå Northvolt Ett ("One") gigafactory, with 500 workers, had produced its first batch of prismatic cells, as part of its machinery commissioning process. Factory completion and initial customer shipments are expected in 2022. The company projects battery output of 16 gigawatt hours (GWh), enough for ~300,000 EVs, by 2024. With full production lines and staffing, the plant expects to produce 60 GWh of batteries with 3,000 employees.{{Cite news, last=Mukherjee, first=Supantha, last2=Soderpalm, first2=Helena, date=2021-12-29, title=Northvolt battery plant sparks into life, a first for Europe, language=en, work=Reuters, url=https://www.reuters.com/technology/northvolt-produces-first-battery-cell-sweden-gigafactory-2021-12-29/, access-date=2021-12-30

References

Swedish companies established in 2015 Electric vehicle battery manufacturers Manufacturing companies based in Stockholm Battery manufacturers