Northvolt has considered US bankruptcy protection, sources say
2 days ago · Northvolt has in recent months gone from being Europe's best shot at a home-grown electric vehicle battery champion to racing to stay afloat by slimming down, hobbled by production problems, the ...
Northvolt’s future hangs in balance as bankruptcy looms
1 day ago · KKR and Bain’s $4bn takeover battle set to open up M&A in Japan; Bernard Arnault’s son steps up in new chapter of LVMH succession saga; Maga Inc: how Trump’s allies stand to gain from ...
Northvolt Rescue on Verge of Unraveling as Cash Runs Short
2 days ago · The complexity of negotiations between numerous debt and equity investors have slowed progress toward an agreement, as well as uncertainty in the EV market that Northvolt supplies, Bloomberg News reported earlier this week. The Swedish government on Friday reiterated it has no plans to rescue Northvolt. --With assistance from Wilfried Eckl-Dorna.
Northvolt's Champions Are in No Rush to Save Swedish Battery …
Nov 9, 2024 · Finance Minister Elisabeth Svantesson told national news agency TT that it’s not up to the government to rescue Northvolt, and said speculation about huge amounts of taxpayer money at stake is unfounded. The battery maker has received some 600 million Swedish kronor ($56 million) in government grants.
Northvolt says subsidiary files for bankruptcy after project pulled
OSLO, Oct 8 (Reuters) - Sweden's Northvolt said on Tuesday that one of its subsidiaries had filed for bankruptcy after the project it was developing was cancelled, while the rest of the...
Northvolt Has Major Obstacles Ahead Even With Bailout In Reach
Oct 18, 2024 · With a $300 million bailout in its sights, Northvolt AB appears to have dodged a major threat to its existence. Yet longer term prospects for the debt-laden battery maker remain fraught.
How Europe’s battery champion descended into crisis
Oct 17, 2024 · Northvolt has been plagued by problems from incompetent management and poor safety standards to over-reliance on Chinese machinery, according to current and former workers at the cash-strapped...
Exclusive: Northvolt seeks to sell redundant battery materials to …
LONDON/STOCKHOLM, Oct 10 (Reuters) - Sweden's Northvolt is trying to sell off its stockpile of battery-making materials, three sources familiar with the matter said on Thursday, as the company...
Northvolt to cut more than 20% of jobs in battle for survival
Sep 23, 2024 · Northvolt will cut more than one in five jobs and suspend the expansion of its main gigafactory as Europe’s leading battery maker fights for survival.
News - Northvolt
Aug 20, 2024 · 23 July, 2024. Northvolt strengthens its Executive Management Team – creates new Chief Transformation Officer role and hires new talent to drive forward its long-term strategy. Pia Aaltonen-Forsell joins as Chief Finance Officer and Matthias Arleth as President Cells.