Northvolt receives support from Volkswagen

» Updated: October 04 2024

» Published: September 16 2024

Northvolt receives support from Volkswagen
Photo: Magnus Lejhall/TT

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Crisis-stricken Northvolt is supported by one of its major shareholders, German Volkswagen. To the news agency Bloomberg, a spokesperson states that the company is now backing Northvolt's production plans.

We have close contact with Northvolt, says the person to the news agency.

The statement comes after reports to Sveriges Radio that Volkswagen and the major bank Goldman Sachs are hesitant to inject new capital into Northvolt. The battery company is said to have worked on a new share issue of around 7.5 billion kronor, according to reports in Dagens industri.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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