Northvolt files bankruptcy in Sweden on Wednesday, the latest blasts to make the battery juggernauts that can be China’s giant rival.
Although the start of Sweden has raised more than $ 14 billion, it is running shortly. Northvolt Submitted for about 11 bankruptcy In the US in November. Since now, it has been racing to maintain cash and raise new funds with an effort to prevent insolvency.
The attempt has been stopped.
“NorthVolt has been undergoing a series of comprellations in the past month, including geopolitic costs, geopolitic chains,” the company said, “said the company in a a statementSee rankings-.
European countries and automakers give pinges in NorthVolt, which represents the courageous bet on the EU battery manufacturer. Most battery factory are now built and launched by Chinese, Japanese, or Korean companies.
The manufacturer is safe The result of $ 5 billion On January 20th, but struggled to bring in the income as the income of the $ 100 million monthly.
The NorthVolt fortress took a more determined turning when BMW was removing $ 2 billion contracts in June 2024. Battery manufacturers could not post time.
To maintain cash, it has died 1,600 employees and sell assets from CUELG divide, A area of the solid-state that is solid-based acquired in 2021.
Northvolt has been looking for additional financing from lenders, but it is not possible to achieve agreement with them. Impassse, plus the previous failure, it is not enough to extend the company that is quite corporate to master the factory and build a solid customer base.
