Transportation
Northvolt Hits End of Line After Failing to Reach Rescue Deal
- EV battery maker filed for bankruptcy in Sweden on Wednesday
- Company had started Chapter 11 process in the US in November
Northvolt ran out of money after a series of operational blunders.
Photographer: Mikael Sjoberg/BloombergThis article is for subscribers only.
Northvolt AB filed for bankruptcy in Sweden, bringing to an end a company that was once seen as the future of Europe’s battery production.
The Swedish supplier for electric-vehicle manufacturers will see its business and assets sold by a court-appointed trustee, according to a statement on Wednesday.