Battery testing solution firm PNE Solution has supplied Swedish battery maker Northvolt with formation equipment and cell cyclers worth around KRW 19 billion, according to the company on April 2.
This marks the first time the company supplied to a European battery maker, and in less than a year since the company established its European corporation in Hungary.
PNE Solution has also supplied cyclers to all three South Korean battery makers – a key reason behind Northvolt’s decision to go with PNE. "Market followers such as Northvolt have the tendency to want to use equipment used by top battery makers who have a lot of mass production experience,” said one industry watcher.
In particular with cyclers, companies usually stick with a supplier for the long-term. This means should Northvolt expand its facilities, PNE Solution may be able to supply accordingly. Northvolt currently has plans to create a joint venture with Volkswagen by 2024 to create a new battery plant with an annual production capacity of 24GWh.
PNE Solution is also looking to step up its game in the formation equipment in China. Via its Chinese joint venture, it plans to manufacture the equipment in China. Production may begin as early as this year.
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