Northvolt's CEO and co-founder, Peter Carlsson is bullish about the future.
Northvolt's most recent funding announcement comes at a time when major European economies are laying out plans to move away from road-based vehicles that use diesel and gasoline.
The U.K., for instance, wants to stop the sale of new diesel and gasoline cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero-tailpipe emissions. The European Union — which the U.K. left on Jan. 31, 2020 —As the number of electric vehicles on our roads increases, the competition to develop factories capable of manufacturing EV batteries at scale is intensifying, with companies like Tesla and VW looking to establish a foothold in the sector.
In a statement issued Tuesday, Northvolt's CEO and co-founder, Peter Carlsson — who previously worked for Tesla — was bullish about the future. "The combination of political decision making, customers committing even more firmly to the transition to electric vehicles, and a very rapid rise in consumer demand for cleaner products, has created a perfect storm for electrification," he said.
According to the International Energy Agency, electric vehicle sales hit 6.6 million in 2021. In the first quarter of 2022, EV sales came to 2 million, a 75% increase compared to the first three months of 2021.
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