Sweden based battery developer and manufacturer Northvolt AB announced having produced its first battery cell from its new gigafactory in northern Sweden on Dec 29. The assembling of this first battery cell makes Northvolt the first company from Europe to design and produce a battery in the region.
The produced battery cell is a prismatic cell format which is a variety of thinner and lighter battery. The company’s chief executive officer, Peter Carlsson, had earlier told reporters that the new gigafactory would produce a battery this by all means even if it means the first battery is produced on New Year’s Eve.
“Commissioning and upscaling of the factory will continue into 2022, when the first commercial customer deliveries will be made,” said the company.
So far, the company has received contracts worth over $30 billion from leading automobile manufacturers including Volkswagen Group AG (ETR: VOW3), Fluence, BMW AG (ETR: BMW), Polestar and Volvo AB (STO: VOLV).
The company is aiming the new factory will achieve a production capacity of 60 gigawatt hours (GWh) and at least have a 20% to 25% market share across Europe by 2030.