Northvolt, a company founded by two former Tesla executives who broke out on their own to build a battery gigafactory in Europe, seems to be in motion.
After receiving backing from VW’s Scania last month, Northvolt has now secured a $68 million loan to build a demonstration battery line for its own battery factory.
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The two former Tesla executives that broke out on their own to build a battery gigafactory in Europe have just secured backing from Volkswagen through their Scania division.
The two companies will develop and commercialize battery cell technology for heavy commercial vehicles at their facilities.
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Two former Tesla executives broke out on their own to build a battery gigafactory in Europe. After launching their fundraising effort and partnering with ABB, they now announced the location of the factory in Sweden.
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Earlier this year, we reported on Northvolt, a startup founded by Tesla’s former Vice President of Supply Chain Management, Peter Carlsson, and another former Tesla supply chain executive, Paolo Cerruti, to build their own battery gigafactory in Europe.
After launching their fundraising effort to finance the factory last month, they are now bringing on board an important partner, ABB, a giant Swiss company developing electrification products and industrial automation systems.
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Earlier this year, we reported on Tesla’s former Vice President of Supply Chain Management, Peter Carlsson, launching a new startup called Northvolt with another former Tesla supply chain executive, Paolo Cerruti, to build their own battery gigafactory.
They are now reportedly about to close their first major round of financing to bring the factory into reality.
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