GSR Capital signed the deal on Wednesday and, at the same time, said it plans to establish an electric vehicle battery plant in Trollhättan, where Nevs is based.
The project is just one of several in the field of electric car battery manufacturing in Sweden. Elsewhere, the company Northvolt is building an electric car battery factory as well as a research and development center.
Bo Normark of InnoEnergy, a company that supports and invests in sustainable energy projects, told Swedish Radio that the different projects should not necessarily be viewed as competing with one another.
Electric cars gradually rolling into the mainstream5:27 min 5:27 min
Nevs gets USD 12 billion order for electric cars3:50 min 3:50 min