For Northvolt AB, the Swedish startup that became a poster child for Europe’s electric-driving future, the route to collapse started in June when BMW AG canceled a multi-billion-dollar order.

BMW was let down last year when Northvolt couldn't fulfill a $20,000,000 order, and the Porsche 718 Boxster project has been ...

Northvolt collapse countdown started with BMW order cancellation. Started clock ticking on Chapter 11 filing by EV battery maker. Author of the article: Bloomberg News. Charles Daly, Eyk Henning, ...

BMW AG is unwilling to invest more in Northvolt AB, the cash-strapped battery maker that’s seeking fresh funds to stabilize its finances, according to a person familiar with the matter.

Northvolt, which had soared for ... When BMW pulled out of a $2 billion contract in June after Northvolt failed to deliver on time, bankruptcy became almost inevitable.

Northvolt is also dealing with internal problems in the transition to full-scale production. ... while BMW AG has backed out of a $2.1 billion battery order because of quality concerns, ...

Northvolt's US unit files for Chapter 11 bankruptcy protection as CEO Peter Carlsson, who has led the startup since 2016, leaves post in what has become a crisis for the European battery industry.

LONDON/BERLIN/STOCKHOLM (Reuters) - Northvolt is in talks with investors and lenders to secure about 200 million euros ($218 million) in short-term funding, three sources familiar with the matter ...

(Bloomberg) -- For Northvolt AB, the Swedish startup that became a poster child for Europe’s electric-driving future, the route to collapse started in June when BMW AG canceled a multi-billion-dollar ...

BMW declined to comment. A Northvolt spokesperson said the company continues to work on financing and declined further comment. Northvolt slid into peril after a production ramp-up fell behind ...