The lithium-ion battery provider's latest financing came through a private placement co-led by Volkswagen that also featured Scania.

Automotive manufacturer Volkswagen invested $620m to co-lead a $2.75bn private placement today for Sweden-headquartered battery producer Northvolt that also featured commercial vehicle producer Scania.

The round was co-led by investment bank Goldman Sachs’ Asset Management subsidiary, pension funds AP1, AP2, AP3, AP4 and Omers Capital Markets, a vehicle for pension fund manager Omers.

AMF, ATP, Baillie Gifford, Baron Capital Group, Bridford Investments, Compagnia di San Paolo, Imas Foundation, EIT InnoEnergy, Norrsken VC, PCS Holding, Stena Metall Finans and private investors…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.