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News

Northvolt files for bankruptcy in Sweden
On 12 March 2025 Northvolt released the news that, having exhausted all efforts to save the future of the company, Northvolt AB has filed for bankruptcy in Sweden after facing severe financial challenges. The EV battery manufacturer has struggled with rising costs, supply chain disruptions, and fluctuating market demands. Internal production ramp-up issues further increased the financial strain.

The bankruptcy process will be overseen by a Swedish court-appointed trustee, Mikael Kubu. The trustee will manage the sale of assets and settle obligations, ensuring a smooth transition for employees and creditors. Notably, Northvolt's German and North American subsidiaries are not included in the Swedish filing. The company's leadership expressed hope that the groundwork laid, including technological advancements and production improvements, would attract new investment during the bankruptcy proceedings.  

Northvolt acknowledged the impact on its stakeholders, emphasising its commitment to supporting employees during this transition. The company highlighted its achievements, including producing one million sustainable battery cells and improving production efficiency. Despite these successes, the financial pressures proved insurmountable.

More details here. 
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