Stockholm, Oct 30, 2024 (AFP) - Volvo buys Northvolt's share in battery joint venture

NAMPA / AFP

2024-10-30

Swedish carmaker Volvo Cars, owned by China's Geely, said Wednesday it was taking full ownership of NOVO Energy -- its joint venture with ailing battery maker Northvolt. The two companies announced in June 2021 the creation of the joint venture, which was set up to build a factory to manufacture batteries for the electric vehicles of Volvo Cars and EV spinoff Polestar. Volvo said it would invoke its "redemption rights to acquire Northvolt's share......

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