Northvolt Salaries & Compensation

Northvolt was a Stockholm-based GreenTech company founded in 2016 by Peter Carlsson (former VP Supply Chain at Tesla) and Paolo Cerruti that set out to build Europe's first and largest homegrown gigafactory for lithium-ion batteries — aiming to supply the rapidly growing European electric vehicle industry with batteries manufactured domestically using renewable energy sources, reducing dependence on Asian battery supply chains and supporting the EU's Green Deal ambitions. At its peak it secured €55 billion in customer orders including from Volkswagen, BMW, and Volvo, raised over $15 billion in equity and debt from investors including Goldman Sachs and Volkswagen Group, and employed 6,600+ staff across its Skellefteå gigafactory and global R&D centers. Despite its visionary mission and unprecedented scale of backing, severe manufacturing execution challenges, quality issues, and a cancelled BMW contract triggered a liquidity crisis, forcing it to file for Chapter 11 bankruptcy in the US in November 2024 and in Sweden in 2025 — becoming the most consequential clean energy startup collapse in European history.