Mexican Media Brands
Sweden Invests in Northvolt Battery Factory Demo Project
The Swedish Energy Agency has agreed to spend as much as 146 million kronor ($18 million) to help build a pilot production line for the giant battery factory envisioned by Northvolt AB.
#hybrid
Share
The Swedish Energy Agency has agreed to spend as much as 146 million kronor ($18 million) to help build a pilot production line for the giant battery factory envisioned by Northvolt AB.
The grant will go to Northvolt Labs in Vasteras. The startup has been pursuing $95 million with which to demonstrate its battery technology and production methods to would-be investors.
Northvolt hopes to build a $4.7 billion lithium-ion battery factory in Skelleftea, Sweden, that by 2023 would be able to produce 32 gigawatt-hours of energy capacity annually. That level of output would be sufficient to power about 450,000 electric vehicles.
RELATED CONTENT
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
-
Revolutionary Hydrogen Storage Tank Design Could Propel H2 Deployment
Rather than storing hydrogen in a large cylindrical tank, Noble Gas has developed a conformal system
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
