Company profile

Northvolt

Northvolt, founded in 2016 and headquartered in Stockholm, Sweden, raised significant capital including about $2.75 billion in a 2021 strategic equity round led by Goldman Sachs and Volkswagen and approximately $5 billion in project financing for its gigafactory expansions. Investors included institutional funds and automakers such as BMW Group and AMF. The company pursued sustainable lithium‑ion battery manufacturing but faced financial challenges leading to bankruptcy in 2025. Its assets are being repurposed by new owners aiming to continue sustainable battery production across Europe and North America.

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Quick facts

Total funding: $2.75 billion
Founded: 2016
Headquarters: Stockholm, Sweden

Notable investors

Goldman Sachs
Volkswagen

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