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ABB Joins Northvolt Battery Plant Project
Swiss engineering giant ABB Group has joined an effort by Stockholm-based Northvolt AB to built a €4 billion ($4.7 billion) facility in Sweden to make batteries for electric cars.
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Swiss engineering giant ABB Group has joined an effort by Stockholm-based Northvolt AB to built a €4 billion ($4.7 billion) facility in Sweden to make batteries for electric cars.
The factory, which is scheduled to begin production in 2020, has a planned capacity to produce enough battery cells per year to deliver 32 gigawatt-hours of energy. Last month Northvolt announced plans to attract €100 million ($118 million) in funding this autumn for a pre-production demonstration line.
ABB’s broad memorandum of understanding with Northvolt covers supply and technology, including products and services for the factory and research on new battery architectures. The company’s ABB Technology Ventures unit also will contribute €10 million to the Northvolt project.
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