Northvolt Unit Files for Bankruptcy as Expansion Plan Halted
- Entity was managing build-out of factory in northern Sweden
- Liquidity crisis deepens at troubled EV battery maker
This article is for subscribers only.
Northvolt AB sought bankruptcy protection for one of its units in a bid to limit the financial fallout from the troubled battery maker’s now-halted expansion in northern Sweden.
Northvolt Ett Expansion AB was managing construction of the project at its flagship plant in Skelleftea, according to a statement on Tuesday. The company said last month it was suspending the build-out as it confronts a deepening liquidity crisis.