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Volvo Cars Secures 50% Stake in Northvolt Battery Joint Venture at Minimal Cost
2025-02-08 /
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Author：小编
Volvo Cars' 2024 fourth-quarter report unveils a pivotal development: the company will secure a 50% shareholding in NOVO Energy, a joint venture with the Swedish electric vehicle battery manufacturer Northvolt, at a cost approaching zero. NOVO Energy, jointly founded by Volvo and Northvolt in 2021 with the aim of constructing a battery factory in Gothenburg, Sweden, faced challenges due to Northvolt's financial downturn, leading to the dissolution of their partnership. This acquisition marks a strategic realignment for Volvo within the battery supply chain, underscoring its commitment to advancing its electrification strategy.
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