NOVO Energy AB is a Sweden-based battery manufacturer focused on the design, development, and industrialization of lithium‑ion battery cells for electric vehicles. Established as a joint venture between Volvo Cars and Northvolt, the company is headquartered in Gothenburg and is building out R&D and large‑scale production capacity to supply Volvo Cars, Polestar, and other automotive applications.
NOVO Energy’s work centers on advanced cell technology, manufacturing engineering, and quality systems tailored to automotive safety and performance requirements. Its industrial plans emphasize low‑carbon production powered by Nordic renewable electricity, responsible sourcing, and traceability in line with evolving European battery regulations. The company forms part of the growing Nordic battery ecosystem that supports transport electrification and the regional value chain for cathode, anode, electrolyte, and recycling partners.
A share purchase and framework agreement aim to explore future collaboration in North America, pending regulatory approvals. No impact on planned investments or cash flow is expected.
