VW Representative Exits Cash-Strapped Northvolt’s Board
- Sven Fuhrmann is stepping down from board of directors
- Northvolt is still in talks for funding to continue operations
The Northvolt Drei EV battery gigafactory construction site in Heide, Germany.
Photographer: Maria Feck/BloombergThis article is for subscribers only.
Volkswagen AG’s representative has left the board of Northvolt AB, adding to the uncertainty around the cash-strapped battery maker as it tries to raise funds.
Sven Fuhrmann, who has represented Volkswagen on the Swedish electric-vehicle supplier’s supervisory board since last year, has resigned, the companies said separately on Monday. VW — Northvolt’s biggest shareholder and a major customer — didn’t say whether it will replace him.