In addition to Northvolt AB, the subsidiaries Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB also filed for bankruptcy in Sweden, the company announced. These are the operating company of the Swedish cell factory Northvolt Ett, the research centre, the recycling subsidiary and the company for the production of battery modules and packs.
“Despite pursuing all available options to negotiate and implement a financial restructuring, including a Chapter 11 restructuring process in the United States, and despite liquidity support from our lenders and key counterparties, the company was unable to secure the necessary financial conditions to continue in its current form,” the company writes in its…
