Europe’s $12 billion battery start-up produces its first lithium-ion cell

Northvolt’s battery manufacturing facility within the north of Sweden in June.

Northvolt

Swedish battery maker Northvolt introduced Wednesday it has produced its first lithium-ion battery cell at its manufacturing facility in Skelleftea, assembly its deadline to start out manufacturing on the plant earlier than the top of 2021.

Northvolt, which was valued at $12 billion by buyers in June, stated it is the primary battery of its type to have been totally designed, developed and assembled at a so-called gigafactory by a homegrown European battery firm.

A gigafactory could be classed as a large-scale battery plant the place the yearly output is measured in gigawatt-hours (GWh). The ability, Northvolt Ett in Skelleftea, is predicted to have a yearly output of 60 GWh.

The battery cell got here off the manufacturing line on the gigafactory on Tuesday, Northvolt stated.

“After all, this primary cell is just the start,” Peter Carlsson, co-founder and CEO of Northvolt, stated in a press release.

“Over the course of the approaching years, we look ahead to Northvolt Ett increasing its manufacturing capability significantly to allow the European transition to wash vitality.”

The vast majority of the world’s electrical automobile batteries are at present made within the U.S. and Asia, however Northvolt hopes to alter this.

Regardless of being lower than 6 years previous, Northvolt has signed greater than $30 billion price of contracts with prospects together with carmakers BMW, Volkswagen, Volvo and Polestar.

Tesla has a pilot plant the place it’s making an attempt to make its personal battery cells however it at present makes use of batteries from CATL, Samsung, Panasonic and LG in its vitality storage methods and autos.

Northvolt stated industrial deliveries will start in 2022, including that manufacturing capability will enhance to 60 gigawatt-hours within the coming years, which is sufficient to provide batteries for round 1 million electrical autos. 

Learn extra about electrical autos from CNBC Professional

The corporate has raised greater than $6.5 billion from a bunch of buyers to assist it broaden its operations.

The most recent funding spherical, Northvolt’s largest but, was co-led by Goldman Sachs and VW, alongside new buyers together with Swedish pension funds AP1, AP2, AP3, AP4 and Canadian pension supplier OMERS. Earlier buyers resembling Spotify CEO Daniel Ek and funding administration agency Baillie Gifford additionally invested within the spherical.

Correction: This story has been up to date to accurately identify Skelleftea as the placement of the plant and to higher describe Tesla’s battery operations and utilization.

Source

Leave a Reply

Your email address will not be published.