Troubled Battery Maker Northvolt Pays Tax Bill, Meeting Key Test
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Sweden’s Northvolt AB paid a tax bill that fell due on Monday, a spokesman for the troubled battery maker said, meeting a closely watched deadline as the company scrambles to raise more funding.
The taxes due, reported to total 287 million Swedish kronor ($27.6 million), represented the latest test of viability for the company, which is battling a liquidity crisis after a rapid expansion drained cash.