Swedish EV battery maker raises $1.2B to expand to North America

Northvolt, a Swedish producer of lithium-ion batteries, has raised around $1.2 billion from BlackRock and various Canadian pension plans to build new factories in North America and Europe, according to report from Reuters.
Tuesday’s announcement signals the first time Northvolt has shared concrete plans to build in North America. If Northvolt builds in the U.S., it’ll be able to take advantage of government incentives featured in President Joe Biden’s Inflation Reduction Act (IRA). A range of automakers and battery makers — from Hyundai and Stellantis to Panasonic and SK Inno

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