Northvolt to Stop Production in June With No Buyers In Sight

Northvolt AB will stop making cells at its last remaining factory in northern Sweden at the end of June, marking the demise of what was once Europe’s best hope of a homegrown battery champion.

An absence of buyers to save the battery maker led the trustee managing its bankruptcy estate to conclude production needs to wind down, according to a statement on Thursday that confirmed an earlier report by Bloomberg News.