Sweden’s hopes for a booming green industry face challenges as Northvolt, the nation’s flagship battery plant, struggles with significant financial issues, including $5.8 billion in debt and a recent bankruptcy filing. This situation is compounded by decreased demand for electric…
The German government is facing criticism over its subsidy policy for the struggling Swedish battery manufacturer Northvolt, which has filed for Chapter 11 bankruptcy protection in the U.S. Chancellor Olaf Scholz and Vice Chancellor Robert Habeck defended their approach in…
The financial troubles of Swedish battery manufacturer Northvolt may lead to substantial losses for the German government and Schleswig-Holstein state, which are jointly liable for €600 million in loans from KfW. Northvolt has filed for Chapter 11 bankruptcy in the…
Northvolt, the Swedish battery manufacturer hailed as Europe’s battery hope, has filed for Chapter 11 bankruptcy protection in the USA. The company faces substantial debts of $5.8 billion and has reported only $30 million in liquid assets left. Despite the…
