Bankrupt Northvolt Seeks Investors’ Nod to Keep Making Batteries
An anode oven at the Northvolt plant in Skelleftea, Sweden.
Photographer: Mikael Sjoberg/BloombergThis article is for subscribers only.
Northvolt AB is asking for shareholder approval to keep building battery cells while the bankrupt electric-vehicle supplier seeks the new funding needed to emerge from Chapter 11 protection.
The extraordinary general meeting scheduled for Wednesday at Northvolt’s Stockholm headquarters is billed as a “procedural step” by the company. The gathering, announced in December, is required when equity falls below one-half of registered share capital, spokesman Martin Hofelmann said in an email.