Northvolt Hires Advisory Firm Teneo to Tackle Cash Crunch
- Battery maker plans for contingencies amid lender talks
- Swedish firm’s stumbles put Europe’s EV battery hopes at risk
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Sweden’s Northvolt AB has hired consulting firm Teneo for restructuring advice, including contingency planning should the debt-backed battery maker fail to reach revised terms with lenders, according to people familiar with the matter.
The preparations are part of Northvolt’s response to a fast-moving liquidity crisis, said the people, who asked not to be identified because the matter is private.