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VW-Funded Northvolt Expands with $1.1 Billion Investment

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With support from the likes of Goldman Sachs, the Swedish battery producer will heighten production and build new facilities.

is also in the works, set to produce lithium-ion batteries near the North German town of Heide by 2025., a promise that has become central to its production facility selection. The Borlänge plant is set to use 100% clean energy once opened, and the impending facility in Heide was intentionally placed in Germany's clean energy valley in addition to serving as a battery recycling location.

Broadly, the company has made aChristopher Gorelczenko, senior director of commissioning at Northvolt, shows off a prototype Northvolt battery cell."If you use coal in your production, you embed a fair amount of CO2 into your battery, but if we use clean energy, we can build a very sustainable product," Carlsson said.

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