Northvolt receives $14 billion order from Volkswagen

The order means that the factory in Skellefteå will be further expanded to meet the increasing demand. 

- Volkswagen is a key investor, customer and partner on the journey ahead and we will continue to work hard with the goal of providing them with the greenest battery on the planet as they rapidly expand their fleet of electric vehicles, said Peter Carlsson, Co-founder and CEO, Northvolt.

Volkswagen will increase its ownership in Northvolt, and also buy out Northvolt from the joint venture share in the batteri factory in Salzgitter in Germany.

- Volkswagen will continue to deepen the collaboration and partnership with Northvolt. They are one of our key battery suppliers as we make the transition to electric mobility – and there is potential to expand this partnership even further, said Thomas Schmall, Chairman of the Board of Management of Volkswagen Group Components.

The order means that Northvolt becomes the strategic lead supplier for Volkswagen in Europe. With the order worth more than $14 billlion over the nest 10 years, Northvolt now has secured $27 billion worth of contracts from key customers.

Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Among Northvolt industrial partners and customers are ABB, BMW Group, Scania, Siemens, Vattenfall, Vestas and the Volkswagen Group. 

Volkswagen plans to build 6 battery factories in Europe, among them the factory in Skellefteå.