Ex-Tesla executive's power storage firm to rival Elon Musk

NorthVolt, founded by former Tesla head of supply chains Peter Carlsson has announced plans to build a lithium-ion battery factory to compete with 'Gigafactories' being built by Elon Musk's Tesla. "All of Tesla's batteries go to support their products...There's plenty of other demand out there," said Carlsson. Sweden-based NorthVolt expects to halve the cost of lithium-ion battery packs by 2022.