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Northvolt in Talks for €200 Million Funding
Swedish battery maker Northvolt is currently in discussions to raise approximately €200 million ($211 million) in new funding. The funds are intended to support the expansion of its battery cell production capacity in Europe. Northvolt, which has previously secured significant investments, aims to strengthen its position in the competitive battery manufacturing market, addressing the growing demand for electric vehicle batteries.
The company has been rapidly scaling its operations and has already attracted substantial financial backing from major investors, including Goldman Sachs and Volkswagen. This additional funding will help Northvolt accelerate its production timelines and enhance its technological capabilities, further solidifying its role as a key player in the transition to sustainable energy solutions.
Read the full article in Reuters: http://www.reuters.com/technology/northvolt-talks-about-200-million-euros-funding-sources-2024-10-11/
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