Hammarskiöld & Co advises Scania in 10 MEUR strategic partnership investment in Northvolt
Hammarskiöld & Co has provided legal advise to Scania for Scania’s investment in Northvolt and the parties’ strategic partnership for the joint development and commercialization of battery cell technology for heavy commercial vehicles. Scania is investing EUR 10 million in the partnership to enhance further technology development and support the establishment of Northvolt’s demonstration and research facility. The partnership includes agreements on joint research & development efforts as well as an off-take purchase agreement for battery cells.
Scania is a world-leading provider of transport solutions and the partnership with Northvolt is one of several strategic initiatives in Scania’s ambition to drive the shift toward a sustainable transport system.
Northvolt was founded in 2016 with the mission to build the worlds greenest battery in Sweden with a minimal carbon footprint. Northvolt’s team is building the next generation battery factory which, once completed, will be Europe’s largest battery factory.
For further information, please see Scania’s press release.