Northvolt Is Said to Push Back Sweden IPO to Next Year
- Battery maker previously said listing could happen in 2024
- Timeline extended amid slow market and operational setbacks
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Northvolt AB aims to list its shares in Sweden next year after the battery maker previously guided that an initial public offering could happen in 2024, according to a person familiar with the matter.
The Swedish manufacturer, founded by two former Tesla Inc. managers, is seen as central to European efforts to establish an electric-vehicle supply chain that can rival Asia and the US. The IPO would mark the next financial milestone for the company, which has raised more than $13 billion in debt and equity.