Volkswagen inks 10-year, $14bln deal with Swedish battery maker Northvolt

Volkswagen has placed a $14-billion battery cell supply order with battery maker Northvolt for the next 10 years, the Swedish company said on Monday March 15, making Northvolt the carmaker’s “strategic lead supplier for premium battery cells for Volkswagen Group in Europe.”

The Swedish battery also said it will sell its share in joint venture Northvolt Zwei, one of the partnership’s factories based in Salzgitter, Germany to Volkswagen as part of the carmaker’s own increased battery manufacturing efforts in the continent. Northvolt Zwei is set to start production in 2024.

Additionally, Volkswagen will increase its...

Published

Ana de Liz

March 15, 2021

14:52 GMT

London