Northvolt has been looking for money since mid-last year and filed for Chapter 11 in the U.S. in November with $5.84 billion in debt in one of the largest bankruptcies of 2024.

Northvolt Ett Expansion was created to manage the buildout of a gigafactory in northern Sweden, but that project was shelved as part of a cost-saving plan. Skip to Main Content.

Northvolt asked more than 100 shareholders at a meeting this month to provide $1.29 billion over the next two years to help restore the bankrupt Swedish battery maker's business, two sources ...

Tesla laid off more than 10% of its global workforce in April, and rivals Rivian and Lucid have also cut workers. Northvolt did not immediately respond to a request for comment from Business Insider.

Northvolt was one of the world’s most valuable battery startups. Now it has run out of charge. Over the past week, the Swedish company filed for bankruptcy in the U.S. and said its co-founder ...

Northvolt’s crisis has already delivered a significant blow to Europe’s EV sector. Still, the company had maintained its operations during the last few months, even as bankruptcy proceedings ...

Northvolt fought to avoid bankruptcy by laying off 1,600 employees in September and selling assets in November from its acquisition of Cuberg. The company was reportedly burning through $100 ...

Northvolt filed for Chapter 11 bankruptcy protection in the U.S. in November after a bid to secure rescue funding fell short, leaving the company with little cash and $5.8 billion in debt.

This week, the Northvolt unit managing the expansion of its main battery-cell factory in northern Sweden filed for bankruptcy, saddling suppliers with about 606 million Swedish kronor ($58.3 ...

Swedish prosecutors are set to serve Northvolt with a suspicion of gross manslaughter notice following the death of a worker at the EV battery-maker’s struggling gigafactory in the country’s ...

(Bloomberg) -- When Northvolt AB’s clean-energy star was on the rise, Sweden’s political class took every opportunity to bask in its glow. Prime Minister Ulf Kristersson called the battery ...

Northvolt plans to invest $750 million expanding its laboratory facility in Sweden, a top executive said, ... who have driven up the valuations of pioneers such as Tesla and Lucid Motors.