1/15/2024 0 Comments Volt share price![]() ![]() The new estimated valuation is about $11 billion Euros. This confirms reporting by the German media outlet, Manager Magazin, in July 2021 that Northvolt was pursuing an IPO. In an interview in June 2022, Northvolt Chairman, Carl-Erik Lagercrantz, stated the company is likely to seek an IPO in the next two years. Reuters reported in February 2023 that Northvolt was close to hiring a bank to commence the process toward an IPO. If the company decides to IPO in the U.S., here are a few Northvolt ticker suggestions that appear to be available. Northvolt is still a private company, so there is no Northvolt stock symbol yet. What is the Northvolt Stock Symbol? Northvolt Ticker? Northvolt is positioning itself to enable European vehicle electrification by producing and recycling batteries. Hydrovolt was created to build a sustainable battery recycling capacity in Europe, akin to Redwood Materials in the U.S. To further expand its mission, Northvolt created a joint venture called Hydrovolt with Hydro, a Norwegian energy and aluminum company. The Financial Times reported in late-March 2023 that the company is seeking to secure an additional $5 billion in debt financing in 2023. The company has also secured debt financing from various banks and government entities. Investors include Siemens, Volkswagen, Goldman Sachs, BMW, AMF, Folsam, IMAS Foundation, ATP, Baillie Gifford, Baron Capital Group, Bridford Investments Limited, Compagnia di San Paolo through Fondaco Growth, EIT InnoEnergy, Norrsken VC, PCS Holding, Scania, Stena Metall Finans, and Cristina Stenbeck, Daniel Ek (of Spotify). Northvolt has also secured more than $27 billion in product contracts from customers such as BMW and Volkswagen. Northvolt has raised more than $7.6 billion in debt and equity to fuel expansion and production capacity. The company has conducted several equity raises and debt financing rounds. Its investors include the founders, employees, venture capital firms, car companies, and industrial conglomerate companies. Northvolt is a venture-backed technology startup. Northvolt AB (legal name) is a private limited liability company.ĪB stands for “ Aktiebolag,” which means limited company or corporation. ![]() The company was founded in 2016 with a mission to build the world’s greenest battery to enable the European transition to renewable energy. In December 2021, Northvolt produced the first European-designed and manufactured lithium-ion battery for electric vehicles in its gigafactory in Skellefteå, northern Sweden.Ī second gigafactory is under construction in Salzgitter, Germany, in partnership with Volkswagen, and a third is slated to be built in Heide, Schleswig-Holstein, Germany. It seeks to balance the global automotive battery supply in competition with Asia and North American manufacturers by scaling battery manufacturing in Europe. The company’s primary target is automotive battery applications (cars and charging stations), but it also produces products for grid storage, industrial applications, and portable devices (e.g., tools, e-bicycles).įounded by former Tesla executive Peter Carlsson, Northvolt aims to support global electric vehicle expansion in the coming decades. Northvolt is a Swedish design and manufacturing company producing lithium-ion batteries in Europe for a more sustainable energy storage future. : Northvolt thinks shredding old batteries to make EVs sustainable : Northvolt and Scania unveil green truck battery : Northvolt to invest billions in gigafactory in Germany : Canadian pensions manager invests $400 million in Northvolt : Northvolt wants to rival China’s battery dominance ![]() : Northvolt Close To Choosing Site Near Montreal For $5.3 B Factory
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