2021 - The Year for EMH, page-781

Their options for local raw materials are very limited if we are being honest.

VW-backed Northvolt raises €2.27B to build the world’s greenest battery; here’s how


https://siliconcanals.com/crowdfunding/northvolt-raises-2-27b/


Stockholm-based Northvolt is a lithium-ion battery manufacturing company that focuses on providing eco-friendly batteries. It provides electrification and renewable energy storage designed for lithium-ion battery plants to produce batteries for electric vehicles. The company is on a mission to deliver batteries with an 80 per cent lower carbon footprint compared to those made using coal energy.

To achieve its 2030 capacity target, the company currently expects to build at least two more gigafactories in Europe over the coming decade, and is actively exploring the opportunity of building the next of these in Germany. During the same timeframe, Northvolt foresees tremendous growth in other parts of the European value chain for battery manufacturing; from processing of raw materials to component and equipment manufacturing, to production of battery cells and systems and the build-up of recycling infrastructure.