Swedish electric car battery maker Northvolt AB announced on Wednesday that it has filed for bankruptcy in Sweden in order to secure a sustainable financial and operational future. "The company was unable to secure the necessary financial conditions to continue in its current form," the company...
Volkswagen AG (VW), known internationally as the Volkswagen Group, gradually reduced the nominal value of its stock in Northvolt AB throughout 2024 as the latter company was preparing to file for Chapter 11 bankruptcy, the Financial Times (FT) reported on Monday.People familiar with the matter...
Northvolt AB announced on Friday that its Chief Executive Officer (CEO) Peter Carlsson (pictured) decided to step down after the company filed for Chapter 11 bankruptcy protection in the United States in order to be able to restructure its debt and reorganize its business."Today marks a significant...
Volvo Cars announced on Wednesday that it had initiated a process to take complete control of NOVO Energy following a breach of the deal by its joint venture partner, Northvolt AB. Northvolt failed to meet its financing obligations, prompting Volvo to invoke its redemption rights to acquire Northvolt's...
Swedish electric car battery maker Northvolt AB announced on Monday that it will cut 1,600 jobs as part of its revised scope of operations in Sweden. The job cuts will be split among three Swedish cities, with 1,000 positions being cut in Skelleftea, 400 in Vasteras and 200 in Stockholm."While overall...
BMW Group canceled a $2 billion order for battery cells from Swedish battery maker Northvolt AB, part of a long-term contract signed in 2020, because it is behind schedule, German Handelsblatt reported on Thursday.
"Northvolt and the BMW Group have jointly decided to focus Northvolt's activities on...
Northvolt AB is considering the possibility of launching an initial public offering (IPO) in which the value of the company could reach $20 billion, The Financial Times reported on Monday, citing sources with knowledge of the matter.
According to the report, the company intends to list in Stockholm...
Northvolt AB announced on Thursday that it chose Montreal in Canada to open its first fully integrated lithium-ion battery gigafactory outside of Europe whose corporate name will be Northvolt Six. The site will be operative by 2026, after investing a total of $5 billion for the first phase.
The factory will...
Swedish battery manufacturer Northvolt AB plans to establish a new gigafactory in northern Germany, where it is expected to produce about a million lithium-ion batteries for electric vehicles every year starting from 2026.
According to a statement jointly issued by Northvolt and the German...
Swedish battery maker Northvolt announced on Wednesday its first lithium-ion battery cell at its factory in Skelleftea.
"Marking a new chapter in European industrial history, the cell is the first to have been fully designed, developed and assembled at a gigafactory by a homegrown European...
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