VODERADY, Slovakia ¨C Northvolt¡¯s financial collapse has not entirely crushed Europe¡¯s dream of developing its own electric vehicle batteries, but fulfilling it is likely to require Chinese cash and expertise.
InoBat CEO Marian Bocek¡¯s Slovakian start-up had to work hard to secure funding until China¡¯s fifth-largest battery maker Gotion bought a 25% stake last year and formed a joint venture with InoBat to build European gigafactories.
On Friday, InoBat announced €100 million ($104 million) in Series C funding, taking its total raised to well over €400 million.
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