Northvolt has been looking for money since mid-last year and filed for Chapter 11 in the U.S. in November with $5.84 billion in debt in one of the largest bankruptcies of 2024.

Northvolt's $15 billion collapse shook the cleantech industry. Its bankruptcy highlights risks in ambitious electric vehicle battery production. Redwood Materials is taking a different approach.

Yes,” he added. Northvolt has a number of assets, including its Skellefteå factory, an R&D facility in central Sweden, and land and permits for factories in Germany and Sweden.

Northvolt sought to capture 25 percent of the European battery market by 2030. Last year, the company was able to secure a $5 billion loan from the European Union to expand its production.

Northvolt filed for Chapter 11 bankruptcy protection in the U.S. in November after a bid to secure rescue funding fell short, leaving the company with little cash and $5.8 billion in debt.

STOCKHOLM/BERLIN/FRANKFURT (Reuters) -Northvolt asked more than 100 shareholders at a meeting this month to provide $1.29 billion over the next two years to help restore the bankrupt Swedish ...

Porsche isn’t the only one that could be impacted as Audi also has a deal with Northvolt. Their batteries will be used to power models based on the PPE platform including the A6 e-tron.

Northvolt’s bankruptcy is part of an industry-wide reassessment of the demand for electric vehicle batteries. Companies like BASF and Umicore have pulled back on battery materials investments.

Northvolt needs $1.2bn to continue operations. It’s a telling number after the Swedish battery manufacturer secured $15bn in funding, which has delivered none of its promised battery capacity ...

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 order.

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.

Northvolt AB produces lithium-ion, lithium-metal and sodium-ion cells for e-mobility and energy storage, amongst other purposes. The company’s flagship battery gigafactory, Northvolt Ett, is ...