VW Backs Northvolt’s Ramp-Up as Battery Maker Cuts Costs
The NorthVolt AB Labs research and development center in Vasteras, Sweden.
Photographer: Mikael Sjoberg/BloombergThis article is for subscribers only.
Volkswagen AG said it remains a supporter of Northvolt AB’s ramp-up following reports that the German automaker is undecided on financing the battery producer in the near future.
“We are in close contact with Northvolt and are supporting the industrial ramp-up of the existing production lines,” said a spokesperson for Volkswagen, which owns around a fifth of Northvolt and is looking to cut costs to become more competitive.