Sweden's Northvolt planning flotation - report

Swedish battery company Northvolt AB is eyeing a listing on the stock market in the coming two years, Bloomberg reported on Monday, citing chairman Carl-Erik Lagercrantz.

The company's chairman told the news agency in an interview that Northvolt is in a good position to go public.

The company, founded in 2016, has raised some USD 6.5 billion (EUR 5.7bn) in equity and debt so far. Northvolt eyes 150 GWh of deployed annual battery production capacity in Europe by 2030.

It is "reasonable" to expect an initial public offering (IPO) in the next two years, according to Lagercrantz, even if the company does not need the funding.

At the end of 2021, Northvolt boasted USD 30 billion of orders from customers including BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar.

(USD 1 = EUR 0.946)

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