June 09 - 13:06
Lithium-ion battery manufacturer Northvolt raises $2.75bn
Swedish battery maker Northvolt has raised $2.75bn in a private placement. With customers such as BMW and Volkswagen, Northvolt plans to expand its factory in Sweden in order to increase its capacity to develop batteries for electric vehicles as demand rises. The placement was led by existing investors Goldman Sachs and Volkswagen, as well as Swedish pension funds AP1-4 and OMERS Capital Markets.
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