Volvo Cars to buy out Northvolt from jointly owned gigafactory in Sweden

By The Guardian | Oct 31, 2024 at 11:10 AM EST

Volvo Cars plans to acquire struggling battery maker Northvolt's shares in their joint gigafactory in Sweden, impacting Europe's ambition for a homegrown electric car battery. The move follows Northvolt's financial struggles and uncertainties about its future, affecting the region's competitiveness in car battery production.

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