Five strategies for battery procurement
In July 2022, Stockholm-based Northvolt announced that it had raised $1.1 billion to finance the expansion of its battery cell and cathode material production footprint in Europe. Northvolt’s third gigafactory, Northvolt Drei, in Heide, Germany, is expected to have a capacity of up to 60 GWh. It will start to produce its first batteries in late 2025.
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