With a humongous market for electric vehicles in Europe, former Tesla top brass Peter Carlsson and Paolo Cerruti have launched their new startup ‘North Volt’ and are planning to build a ‘Gigafatory’ for the Li-Ion batteries in Europe. The duo have already secured some Swedish investors and aim to raise upto $4 billion USD and have set an strenuous goal to bring down the battery cost below $100/kWh.
Reuters
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