Goldman Sachs Unit in Talks to Join Northvolt Rescue Effort
- Asset-management arm is second-largest owner of battery maker
- Cash-strapped Northvolt is scrambling to secure funding deal
Northvolt has been working to secure a cash infusion that would pull the electric-vehicle supplier through a liquidity crisis disclosed last month.
Photographer: Jonathan Nackstrand/AFP/Getty ImagesGoldman Sachs Group Inc.’s investment arm, the second-largest shareholder in Northvolt AB, is considering joining other investors in an effort to rescue the cash-strapped battery maker, according to people familiar with the matter.
Goldman Sachs Asset Management is actively involved in trying to find a solution to Northvolt’s liquidity crisis, the people said, asking not to be identified because the fundraising talks are confidential. They characterized the discussions as constructive, while cautioning that the situation remains fluid, and the firm’s participation would depend on support from other investors.