Clifford Chance advised Volkswagen AG on Gigafactory joint venture with Swedish Northvolt AB.
Volkswagen AG and Northvolt AB have founded a joint venture with half participation each. The goal is to build a gigafactory for the production of lithium-ion batteries in Salzgitter.
With the founding of the joint venture, both partners have reached an agreement in June to jointly invest in the production of batteries. Volkswagen is investing around 900 million euros here, part of it in the joint venture and another part directly in Northvolt. In return, Volkswagen receives about 20 percent of the shares in the Swedish battery manufacturer and a seat on the Supervisory Board.
Clifford Chance team advising Volkswagen included Partner Dr. Jörg Rhiel (Picture), Senior Associate Moritz Petersen and Associate Natalie Hemberger (all Corporate, Frankfurt), Dr. Ing. Claudia Milbradt and Associate Günter Barth (both IP, Dusseldorf), partners Thorsten Sauerhering and Counsel Dominik Engl (both Tax, Frankfurt), Partner Markus Böhn and Senior Associate Jörg Reinshagen (both Real Estate, Frankfurt).
Involved fees earner: Günter Barth – Clifford Chance; Markus Böhn – Clifford Chance; Dominik Engl – Clifford Chance; Natalie Hemberger – Clifford Chance; Claudia Milbradt – Clifford Chance; Moritz Petersen – Clifford Chance; Jörg Reinshagen – Clifford Chance; Jörg Rhiel – Clifford Chance; Thorsten Sauerhering – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Volkswagen AG;