Things go from bankrupt to worse for Swedish EV battery manufacturer.
After filing for Chapter 11 in the US in November, Northvolt — which worked with Volkswagen, Volvo, Audi, Porsche, and BMW — has now filed for bankruptcy in Sweden. The company was founded by two ex-Tesla executives and was one of Europe’s leading efforts to rival US and Asian battery manufacturers before racking up billions in debt.
Late last month, Northvolt reached a deal handing its joint venture partner Volvo Cars full ownership of Novo Energy to build a battery factory in Gothenburg. The two businesses also signed a fram ...
STOCKHOLM—Truck maker Scania agreed to buy Northvolt’s heavy industry business, as the battery maker continues to work through a restructuring process. “This acquisition will provide access ...
The sale of Northvolt Systems Industrial follows similar divestments to companies such as Norsk Hydro and Volvo Cars, as Northvolt aims to reduce costs and focus on its battery plant in northern ...
Northvolt sells stake in battery unit to Volvo, to explore North American deals Swedish electric-vehicle battery maker Northvolt agreed with Volvo Cars on Wednesday to sell its stake in their ...
Investment Management Corp. of Ontario has written down its $400 million investment in Northvolt AB, the electric vehicle battery maker that filed for bankruptcy protection last year, according to ...
STOCKHOLM: Northvolt has held talks with a big industrial company on selling the business that makes electric battery packs for heavy industry, as a lack of funds forces it to try to divest one of ...
The bankruptcy of battery cell maker Northvolt, once the leader of Sweden's green industrial boom, is a huge blow to the ...
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