European Investment Bank to lend Northvolt $391mln for battery gigafactory

By Martim Facada
Published: Friday, 17 May 2019

European Investment Bank will lend €350 million ($391 million) to Northvolt for the construction of a gigafactory that could consume as much as 12,800 tpy of lithium compounds.

The European Investment Bank will help finance Northvolt’s gigafactory in Sweden with a €350 million loan, the battery manufacturer said on Wednesday May 15. 

Northvolt is looking to raise €1.5 billion to build its gigafactory. The €350 million loan is currently under negotiation and is pending the completion...

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