Two former employees of Tesla decided not to do nothing and founded their own startup, North Volt, in which they plan to open a lithium-ion battery plant in Europe.
Tesla ex-managers Peter Karlsson and Paolo Cherruti report that they have already found European investors willing to invest in construction, so now the founders of North Volt are searching for a suitable place. Presumably the plant will be built either in Finland or in Sweden. Now North Volt still has a lot of problems. The leaders of the startup continue to seek funding and draw up the necessary documents to start operations. The construction of the factory is going to start only in 2019.
If everything goes the way the enthusiasts plan, by 2023 they will be able to start production at full capacity. Direct competition with Tesla is not visible here, because the company Ilona Mask produces batteries only for their own needs. But North Volt is not limited to anything like it. The company plans to reduce the cost of batteries, so it probably expects that very soon they will have many customers. The main thing is to find a little over four billion dollars to build a plant.
The article is based on materials .
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