Northvolt Has Major Obstacles Ahead Even With Bailout In Reach
- Rescue package worth $300 million said to be in final stages
- Longer term challenges remain for firm to rebuild confidence
Photographer: Mikael Sjoberg/Bloomberg
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With a $300 million bailout in its sights, Northvolt AB appears to have dodged a major threat to its existence. Yet longer term prospects for the debt-laden battery maker remain fraught.
Talks for an emergency funding package, sewn together with contributions from shareholders, lenders and customers, are in the final stages, Bloomberg News reported on Thursday, citing people familiar with the matter. The rescue could still fall apart, they cautioned.