Northvolt's’giga-loan’to make cells in Sweden

摘要

Start-up accelerates into Europe's EV battery-producing fast lane as finance deal is approved.AFTER MONTHS of behind-the-scenes talks,the European Investment Bank(El B)confirmed its approval in principle of a €350 million(US$39im)loan for Swedish battery maker Northvolt to build a i6GWh capacity lithium-ion battery cell plant.EIB vice-president Andrew McDowell said the loan was the largest ever direct financing approved by the bank for battery technology.Batteries to be produced by Northvolt at Skelleftea”are targeted for use in automotive,grid storage,industrial and portable applications”,the EIB said.