- Northvolt said it submitted the bankruptcy filing after an “exhaustive effort to explore all available means to secure a viable financial and operational future for the company.”
- Northvolt’s collapse into insolvency represents a major blow to Europe’s ambition to become self-sufficient and build out its own EV battery supply chain to catch up to China.
- Northvolt said a Swedish court-appointed will oversee the bankruptcy process, including the sale of the business and its assets and settlement of outstanding obligations.
Struggling electric vehicle battery manufacturer Northvolt on Wednesday said it has filed for bankruptcy in Sweden.
The firm said it that it submitted the insolvency filing after an “exhaustive effort…
