The site near Montreal where Northvolt planned to build a new EV battery plant, seen in 2024. A Quebec judge placed the North American branch of the company under creditor protection on Friday.Christinne Muschi/The Canadian Press
A Quebec Superior Court judge has declared insolvent the North American branch of battery maker Northvolt as the provincial government looks to recover $260-million owed to it by the company.
Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection following a request earlier in the week from the Quebec government.
Northvolt laid off its entire workforce on Thursday following Economy Minister Christine Fréchette’s announcement on Tuesday…