Northvolt AB filed for bankruptcy in Sweden, bringing to an end a company that was once seen as the future of Europe’s battery production.
The Swedish supplier for electric-vehicle manufacturers will see its business and its assets sold by a Swedish court-appointed trustee, according to a statement on Wednesday.
It had already run out of money last year after a series of operational blunders and filed for bankruptcy protection in the US in November. That legal process provided the company with a temporary lifeline while it sought to get its precarious finances on a stable footing and find new…
