Baillie Gifford backs Swedish battery cell maker as European Growth trust makes first private investment

Northvolt founded by Tesla alumni

David Brenchley
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Northvolt's batteries will be used in electric cars
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Northvolt's batteries will be used in electric cars

Baillie Gifford's investment into battery cell supplier Northvolt has become its European Growth Trust's first foray into unlisted stocks, manager Stephen Paice has revealed.

The Edinburgh-based firm was unveiled as one of five new backers of the Swedish firm, which raised $600m to enable it to invest further in capacity expansion, research & development and recycling. Other...

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