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Former Tesla executives plan their own Gigafactory in Europe to bring battery cost down below $100/kwh

Tesla’s former Vice President of Supply Chain Management, Peter Carlsson, has officially launched his new startup called North Volt along with another former Tesla supply chain executive, Paolo Cerruti, and financed by Swedish investors.

The executives plan to build their own Gigafactory for li-ion batteries in Europe – possibly Sweden or Finland. They have the ambitious goal to bring down the cost of batteries below $100/kWh.

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