According to a report by the Financial Times on Sunday, Swedish lithium-ion battery manufacturer Northvolt is in talks to secure over $5 billion in funding to achieve its goal of becoming Europe’s largest battery manufacturer.
The Financial Times cited sources familiar with the matter, stating that the company is in discussions with several banks to raise funds, and a deal may be reached later this year.
So far, Northvolt has raised billions of dollars through bond issuance to fund its factory investments, including $1.1 billion in convertible notes last year, which helped increase production at its super factory in Skelleftea, Sweden.
Reuters reported last month that Northvolt is set to hire banks for an initial public offering (IPO) in Europe or New York, with the company’s valuation potentially exceeding $20 billion.
Source：IThome
