ZURICH -- Swiss technology company ABB has joined Northvolt's project to build Europe's largest lithium ion battery factory in Sweden to cater for an expected rise in demand for electric cars.
Former Tesla executive Peter Carlsson's Northvolt wants the Swedish plant to rival the scale of the U.S. electric carmaker's Gigafactory in the Nevada desert, targeting annual cell production equivalent to 32 gigawatt-hours when it hits full production in 2023.
The agreement covers a supply and technology partnership as well as collaboration on research and product development. ABB Technology Ventures (ATV) will support the initial phase of the project with an unspecified early investment, the company said in a statement.
The factory is expected to start production in 2020. A demonstration line will be ready by 2019, ABB said.
ABB intends to supply robotics, automation and electrification solutions for the project.
The tech company said last week that it will deliver 117 EV charging stations to German utility EnBW to help expand charging facilities along Germany's autobahn system.