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IMAS Foundation

By Ek! Northvolt raises $600m

The European battery manufacturer has raised the funds with a private shares placement which included the co-founder and CEO of music streaming service Spotify.

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Northvolt secures $1bn for battery gigafactory in Sweden

Initially, the company will construct a 16 GWh factory plus a joint venture fab with Volkswagen in Germany, which will also have a throughput of 16 GWh. Both factories could be extended to tap further into the large market for battery cells in Europe.

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