Goldman-backed battery firm Northvolt earmarks next quarter for U.S. factory announcement
Publishing timestamp: 2023-02-22 03:57:50
Summary
Northvolt, a Swedish battery firm, will outline details of a new manufacturing plant in the US before the start of summer. The US Inflation Reduction Act, which features green subsidies for businesses, is worth more than $300 billion and has turbo-boosted Northvolt's plans. Northvolt's batteries are mostly used in electric cars and some of its most important clients include Volkswagen, BMW and Scania. Northvolt is still committed to opening a plant in Germany, but discussions come at a time when the US is pressuring European officials to be stricter on China.
Sentiment: NEUTRAL
Tickers: VOW3-DE, VOWB-FF, BMWB-FF, BMW-DE,
Keywords: sweden, bayerische motoren werke ag, volkswagen ag, trade, united states, joe biden, economy, business news,
Source: https://www.cnbc.com/2023/02/21/northvolt-earmarks-next-quarter-for-us-factory-announcement.html