[Translated from Swedish, LINK] According to Swedish media (DN and DI), the German car manufacturer BMW is one of several who announced this summer that they will continue to invest in Northvolt battery maker. Today's News reports that BMW has invested a total of SEK 650 million in the Swedish Battery company.
BMW was an early investor in Northvolt and invested just over SEK 100 million in the company's testing facility in Västerås - a venture that Andreas Raith, director of BMW's battery cell technology in Munich, regards as essential above all for its signal value.
But since then, BMW has continued to invest. In October last year, it was announced that BMW was a partner in a technology consortium to build knowledge of the supply chain for lithium-ion batteries, in which BMW invested.
This summer, Dagens Industry also revealed that the financing of the new battery factory in Skellefteå is secured, with construction starts scheduled for August this year. Among the financiers were mainly Volkswagen and Goldman Sachs, as well as AMF, Folksam, the Ikea Foundation IMAS - and BMW.
For Dagens Nyheter Andreas Raith now reports that BMW's investment in June amounted to an additional EUR 50 million and that the company thus invests a total of just under SEK 650 million.
However, the investment fades next to Volkswagen's investments in Northvolt, which amounts to around SEK 900 million and where VW has taken a 20 percent ownership interest in the Swedish battery company.
However, the investment fades next to Volkswagen's investments in Northvolt, which amounts to around SEK 900 million and where VW has taken a 20 percent ownership interest in the Swedish battery company.
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