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Announced

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Volkswagen and Northvolt form joint venture for battery production.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Auto Parts

Germany

Friendly

Completed

lithium-ion batteries

Private

Joint Venture

Single Bidder

Private Equity

Synopsis

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Volkswagen and Northvolt, which manufactures electronic component, formed a 50/50 joint venture to build a factory for lithium-ion batteries. Financial terms were not disclosed. “Building a gigafactory in Germany together with Volkswagen allows Northvolt to further increase the production capacity of green battery cells with a minimal CO2 footprint. This will have a significant impact on electrification in Europe,” Fredrik Hedlund, Northvolt Chief Strategy Officer, and the new joint venture CEO.

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