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,…

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