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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.
“As the bankruptcy process unfolds, the court-appointed trustee will determine the future of Northvolt’s businesses and their assets, including technology and production facilities.”
Northvolt files for bankruptcy in Sweden
[northvolt.com]
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