Volkswagen teams with Northvolt AB to invest in battery production

The joint venture between Volkswagen Group and the Swedish battery producer Northvolt AB is gaining further momentum. It has been decided that Volkswagen will erect the buildings and infrastructure for the joint venture’s “Northvolt Zwei” factory that is to produce lithium-ion battery cells at its Salzgitter site – based on the existing Center of Excellence for Battery Cells. Some €450 million (about £390 million) is to be invested in this project. The joint venture will then rent the factory space. Battery cell production at the plant is scheduled to commence in early 2024 with an initial production capacity of 16 gigawatt hours.