Swedish lithium-ion battery producer Northvolt is in talks to secure more than $5 billion of financing to pursue its goal of becoming Europe's biggest battery manufacturer, the Financial Times reported on Sunday.
General view outside the Northvolt facility in Vasteras, Sweden, September 29, 2021. Picture taken September 29, 2021. REUTERS/Helena Soderpalm.
March 26 - Swedish lithium-ion battery producer Northvolt is in talks to secure more than $5 billion of financing to pursue its goal of becoming Europe's biggest battery manufacturer, the Financial TimesThe company is negotiating with a number of banks to raise the amount and an agreement could be reached later this year, the FT said, citing people with knowledge of the matter.
Northvolt has so far raised billions via debt issuance to fund its factory investments, including $1.1 billion in convertible notes last year that have helped it ramp up production at its gigafactory in Skelleftea, Sweden.banks for an initial public offering in Europe or New York that could value the company at more than $20 billion.Reporting by Aarati Krishna in Bengaluru; Editing by Edwina Gibbs
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