March 19, 2019 / 11:56 AM / a month ago

Sweden's Northvolt applies for German battery production subsidies

STOCKHOLM, March 19 (Reuters) - Swedish battery manufacturing startup Northvolt has applied for a German government funding scheme aimed at supporting battery cell production for electric vehicles, the company said on Tuesday.

Northvolt said it would provide further details at a later stage but added it was a logical step to take a closer look at establishing production capabilities in Germany.

Germany will become a key market for Northvolt given that a significant portion of its volumes will be delivered to customers there, the company said.

Reporting by Esha Vaish in Stockholm Writing by Riham Alkousaa in Berlin Editing by Thomas Seythal

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