Northvolt AB is a Swedish company specializing in the development and manufacturing of sustainable, high-quality battery cells and systems, with a strong focus on reducing the carbon footprint. The company was founded to enable Europe's transition to a carbon-free future and to deliver the world's greenest lithium-ion batteries with a minimal CO2 footprint. Northvolt has quickly established itself as a leading player in Europe.

Northvolt's industrial partners and customers include some of the biggest names in various sectors, including ABB, BMW Group, Scania, Siemens, Vattenfall, Vestas, Volkswagen Group and Volvo Cars. These collaborations underline the company's commitment to innovation and sustainability in battery production.

One example of Northvolt's collaborations is the joint venture with Volvo Car Group, where they plan to establish a research and development center in Sweden and a new gigafactory in Europe with a potential capacity of up to 50 gigawatt hours (GWh) per year. Production is scheduled to start in 2026, and as part of the plans, Volvo Car Group will also purchase 15 GWh of battery cells per year from Northvolt's existing battery factory in Skellefteå, Sweden, starting in 2024. This investment is crucial to Volvo Car's ambition to become a leader in the premium electric car segment and to sell only pure electric cars by 2030.

Northvolt has also recently announced that it has secured additional funding to expand the first circular gigafactory in the Western world, underlining its continued growth and ambition in the battery industry.