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Ann: Agreement Signed With SIEMENS, page-131

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Trommel

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27/05/18

01:07

Post #: 33323271
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Originally posted by sroyle ↑

Worth contrasting Magnis 'supply & quote' to true partnership.
Siemens investing 10 Million Euros directly into Northvolt in addition to purchasing battery cells when production underway.

May 25th 2018- Siemens backs Northvolt's $5 billion Swedish battery plant
"The German engineering company has offered its digital enterprise technology to help build the factory, which will become Siemens’ preferred supplier for lithium ion batteries when production starts in 2020. Siemens said it will invest 10 million euros ($11.73 million) into the project which already received support from its Swiss rival ABB (ABBN.S) in September last year. In January Volkswagen-owned (VOWG_p.DE) truckmaker Scania also agreed to invest 10 million euros in the 4 billion euro ($5 billion) factory."

Siemens is partnering with Northvolt for its battery cell gigafactory in Europe
"Siemens also says that it intends to eventually buy batteries from Northvolt’s factory."

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Good find sroyle. Great to see more Gigafactories progressing especially with Siemens involved.

Hopefully Northvolt can ramp up their relatively modest 125 MWh per year initial production (in 2020)

Imperium 3 NY will be well ahead with a sold out 1+GWh per year by mid 2019.

MNS Price at posting: 41.5¢ Sentiment: Buy Disclosure: Held
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