Northvolt, Europe’s biggest hope for producing batteries in the region to power the transition to electric vehicles, will be split up and sold after it filed for bankruptcy on Wednesday in its home country, Sweden. The company, which just a few years ago appeared to be Europe’s best chance to compete against Chinese rivals, filed for Chapter 11 bankruptcy protection in the United States last year…

Volkswagen invests in Northvolt AB

Volkswagen AG is investing some €900 million in joint battery activities with Northvolt AB. Part of the sum is intended for a joint venture with the Swedish battery cell producer, a further share will go directly to Northvolt AB. In return, Volkswagen will acquire about 20 percent of the shares in Northvolt AB and will have one seat on the Board of Directors, subject to approval under antitrust legislation. Furthermore, a 50/50 joint venture to build a 16 GWh battery cell factory in Europe is planned during the course of this year. It is intended to locate the factory in Lower Saxony (Salzgitter) if the preconditions for this are fulfilled. 

Construction of the production facility is scheduled to start, at the earliest, in 2020. Battery cell production for Volkswagen is slated to commence around the end of 2023/beginning of 2024.  @VWGroup @northvolt

Nemaska inks lithium hydroxide supply agreement with Northvolt

Nemaska Lithium Inc has signed an agreement to supply battery grade lithium hydroxide to Northvolt AB.

On April 27, Nemaska Lithium announced an agreement in principle with Northvolt. This agreement is now superseded by a definitive 5-year supply agreement. Under this agreement, Nemaska Lithium agrees to supply, through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc and Northvolt agrees to purchase, on a take-or-pay basis, up to 5,000 but not less than 3,500 metric tonnes per year of lithium hydroxide produced at the Nemaska’s commercial plant in Shawinigan.