Volvo acquires Northvolt's stake in NOVO, bolstering its electric vehicle battery production.

Volvo has acquired Northvolt's stake in their joint venture NOVO, focusing on electric vehicle batteries. This move strengthens Volvo's position in the EV battery supply chain and supports their commitment to sustainable technology. Specifics of the transaction are undisclosed, but Volvo has also signed a framework agreement with Northvolt to explore future collaboration, possibly including supply opportunities in North America.

2 months ago
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