EU bank backs giant Swedish battery project

Plans to build what Europe’s biggest battery plant in Sweden has received financial backing from an EU bank. The European Investment Bank (EIB) has approved a loan of up to €52.5 million (£46.7m) for Northvolt’s factory in Vasteras for the manufacturing of lithium-ion batteries. Two former Tesla executives unveiled the plan for the $4 billion […]

Former Tesla executives plan $4bn battery factory

Two former Tesla executives plan to build a $4 billion (£3.3bn) battery facility in Sweden. Peter Carlsson, CEO of Northvolt, who previously managed Tesla’s supply chain and COO Paolo Cerruti, also an ex-Tesla executive, plan to begin construction during the second half of 2018. They are looking to rival the scale of Tesla’s Gigafactory in […]