Northvolt Rescue on Verge of Unraveling as Cash Runs Short
- Options dwindle for Swedish battery maker as plan falls apart
- Some investors seeking intervention from top customer VW
The parties continue working to put together a stopgap funding plan.
Photographer: Mikael Sjoberg/BloombergThis article is for subscribers only.
Northvolt AB is scrambling to pull together emergency funding after a previous plan fell apart, according to people familiar with the matter, leaving the troubled Swedish battery maker with dwindling options as it runs low on cash.
The $300 million package that was near agreement last month is no longer active, the people said, asking not to be named because the discussions are private.