Northvolt announced the signing of a $600 million private placement, led by Baillie Gifford, Goldman Sachs Merchant Banking Division and Volkswagen, enabling the company to make further investments in expanding its production and recycling capacity as well as R&D activities to support the target of establishing 150 GWh of manufacturing capacity in Europe by 2030. In this private placement, a new group of international institutional investors joins as Northvolt shareholders: Baillie Gifford, Baron Capital Group, Bridford Investments Limited, Norrsken VC & PCS Holding. Private investors Cristina Stenbeck and Daniel Ek also participate in the equity raise together with existing Northvolt shareholders Goldman Sachs Merchant Banking Division, IMAS Foundation, Scania, and Volkswagen.