Volvo Cars will pay Northvolt almost nothing for its 50% stake in their battery venture Novo Energy that it had agreed to ...

Feb 6 (Reuters) - Volvo Cars will not pay Northvolt any money for its 50% stake in their battery venture Novo Energy that it had agreed to acquire, according to the automaker's quarterly report on ...

Last week, Volvo Cars agreed with Northvolt to take over its stake in the venture, which included a planned Gothenburg battery cell factory without disclosing the amount involved. Northvolt ...

Credit: Jeppe Gustafsson/Shutterstock. Swedish EV battery maker Northvolt has reached an agreement with Volvo Cars to sell its stake in their Swedish battery-making joint venture, Novo Energy.

Swedish EV battery maker Northvolt has reached an agreement with Volvo Cars to sell its stake in their Swedish battery-making joint venture, Novo Energy. The two companies will also explore ...

(Reuters) - Volvo Cars will not pay Northvolt any money for its 50% stake in their battery venture Novo Energy that it had agreed to acquire, according to the automaker's quarterly report on Thursday.

Volvo Cars and Northvolt, which is under bankruptcy protection, formed the joint venture in 2021 to build a battery factory in Gothenburg on Sweden's west coast.

Northvolt, a Swedish battery maker under bankruptcy protection, is selling its stake in Novo Energy to Volvo Cars, ceasing joint ventures to focus on battery cell production. Northvolt seeks new ...

Volvo Cars announced on Wednesday that they have reached an agreement to buy out their partner, Northvolt, from their joint battery venture, NOVO Energy. The price of this deal remains undisclosed.