The establishment of a complete domestic battery value chain in Europe is well on its way. Volkswagen Group and Goldman Sachs Merchant Banking lead a $1 billion equity capital raise in Northvolt alongside BMW Group, AMF, Folksam Group and IMAS Foundation. Combining this with the debt financing already set to be provided to the Swedish […]
As the battery production is of strategic importance for Europe, a high-level EBA250 meeting was organised in Krakòw, Poland on May 21st to discuss the opportunity for Poland and the Central and Eastern Europe region at large. More than 40 high-level representatives from private and public sectors actively participated in the meeting co-organised by InnoEnergy,
High-level EBA250 meeting in Poland during impact’19 conference Read More »
The Communication of the European Commission on Long Term Climate Strategy identifies that electrification will play a strong role in decarbonising EU economy, and that battery technology is key to enable electrification, both for the energy and transport sectors. The European Battery Alliance (EBA) was set up to promote innovation and the business value chain
BatteRIes Europe launches call for experts Read More »
The European Investment Bank (EIB) announces in-principle loan agreement to the Swedish start-up Northvolt. Founded in 2016, Northvolt is expected to receive a loan of 350 million euro – EIB’s largest ever direct financing of battery technology. This financing will support the construction of its large-scale lithium-ion battery cells manufacturing plant in Skellefteå, Sweden. A
Northvolt could secure a 350M euro loan from the European Investment Bank Read More »
The German carmaking giant is turning to the Swedish startup Northvolt for all its battery requirements. Volkswagen’s choice of Northvolt as a supplier was revealed in the German business and trade newspaper, Handelsblatt. Volkswagen will apparently expand its cooperation with Northvolt in the field of battery research, which it concluded in March, in order to
Volkswagen turns to Northvolt for battery cell mass production Read More »
Last week, two consecutive events have demonstrated that the decision of Vice-President Šefčovič to launch the European Battery Alliance was a visionary idea. On April 30, seven Member States confirmed their deep interest in mobilising funds to support the rapid expansion of their battery value chain, with concrete projects coming soon to reality. In front
European Battery Alliance: major developments, that call for even stronger efforts Read More »
European Commission Vice President in charge of Energy Union Maroš Šefčovič hosted the third political meeting under the European Battery Alliance in Brussels earlier this week. The meeting brought together the Commission, the European Investment Bank (EIB) and some Member States with the objective to further engage them in cross-border large-scale integrated battery manufacturing projects. The
Third European Battery Alliance meeting at ministerial level Read More »
Northvolt has received a second environmental permit from the Land and Environment Court in Umeå, Sweden, which marks an important step towards the European battery cell production. The permit is an extension of the one granted in June 2018 to allow increased operational capacity from 8 GWh to 16 GWh at the large-scale battery manufacturing
Northvolt secures environmental permits for extended operations Read More »
Polish Ministry of Enterprise and Technology announced that the battery value chain related projects may receive financial support under the IPCEI mechanism. The Important Projects of Common European Interest (IPCEI) mechanism is one of the most important financial instruments by which the European Commission supports the European Battery Alliance. The interested enterprises may submit their
Poland calls for projects across the battery value chain under the IPCEI framework Read More »
Sono Motors announces that the first series production of its solar electric vehicle (SEV) Sion will be manufactured at former SAAB plant in Sweden. Today’s release draws the attention to the following: Former manufacturing plant for fossil cars to produce electric vehicles only, Chinese investments for production in Europe, A new start-up company in the
Sono Motors to produce SEV Sion in Sweden Read More »