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Scania Agrees to Invest €10 Million in Swedish Battery Factory
Commercial truckmaker Scania AB says it will invest €10 million ($12 million) in a plan to erect a giant factory in Sweden to make “green” lithium-ion battery cells for electric vehicles.
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Commercial truckmaker Scania AB says it will invest €10 million ($12 million) in a plan to erect a giant factory in Sweden to make “green” lithium-ion battery cells for electric vehicles.
The €4 billion ($5 billion) project is headed by Northvolt AB, a 14-month-old startup based in Stockholm. CEO Peter Carlsson, who once headed global supply chain operations for Tesla Inc., says the plant will be the largest of its kind in Europe.
Northvolt said in August that it aims to begin making cells by 2020 at a facility in Skelleftea. Northvolt envisions the plant achieving the ability to make 32 gigawatt-hours of cell capacity per year by 2023. The company currently is conducting a drive to raise €1.3 billion, which would enable construction to begin.
Scania, a part of Volkswagen AG, and Northvolt say they will collaborate to develop special heavy-duty battery cells for bus and commercial trucks at Northvolt’s research lab in Vasteras, Sweden.
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