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Focus on Northvolt

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FILE PHOTO: A man stands in front of the Northvolt Ett factory in Skelleftea, Sweden, November 27, 2024. REUTERS/Marie Mannes/File Photo
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Scania tries to breathe life into troubled EV battery maker Northvolt

Four Northvolt workers told Reuters they had seen Scania employees inside the factory in recent months.

FILE PHOTO: A view of a sign near the Northvolt factory in Skelleftea, Sweden August 8, 2024.   TT News Agency/Magnus Lejhall/via REUTERS/File Photo
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Northvolt asks shareholders for $1.3 billion for next two years, sources say

By Marie Mannes, Christina Amann and Emma-Victoria Farr STOCKHOLM/BERLIN/FRANKFURT (Reuters) -Northvolt asked more than 100 shareholders at a meeting this month to provide...

FILE PHOTO: A logo is displayed on battery maker Northvolt's energy storage system plant in Gdansk, Poland,  October 21, 2024. REUTERS/Marie Mannes/File Photo
BusinessEconomyElectric Vehicles (EVs)FinanceNews

Northvolt owners vote to stay operating while seeking financial rescue

Northvolt shareholders back restructuring as Swedish battery maker seeks $1B funding to overcome financial struggles.

A digital render depicts what Stegra's steel mill outside Boden, Sweden will look like when completed, in this handout image obtained December 16, 2024. Stegra/Handout via REUTERS
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Sweden’s north frets over financial risks as green boom stumbles

Sweden's local authorities seek more financial support as Northvolt's bankruptcy threatens the green industry transition.

A logo is displayed on battery maker Northvolt's energy storage system plant in Gdansk, Poland, October 21, 2024. REUTERS/Marie Mannes/File Photo
AutomotiveBusinessElectric Vehicles (EVs)MiningNews

Northvolt seeks to sell electric industrial battery business by year-end

If Northvolt fails to find a buyer, the firm will have to close due to financial constraints by the end of the year.

FILE PHOTO: Northvolt facility in Vasteras, Sweden, September 29, 2021. REUTERS/Helena Soderpalm/File Photo
AutomotiveBusinessElectric Vehicles (EVs)News

Volkswagen has taken major writedown on Northvolt stake, sources say

Volkswagen has written down its 21 per cent Northvolt stake amid the Swedish battery maker's bankruptcy filing, reflecting EV market struggles.

FILE PHOTO: Northvolt facility in Vasteras, Sweden, September 29, 2021. REUTERS/Helena Soderpalm/File Photo
BusinessElectric Vehicles (EVs)News

Goldman funds to take $900 million hit on Northvolt: Financial Times report

Funds managed by Goldman Sachs, which together ranked as the second-largest shareholders in Northvolt, will write off nearly $900M by year's end.

FILE PHOTO: A logo is displayed on battery maker Northvolt's energy storage system plant in Gdansk, Poland,  October 21, 2024. REUTERS/Marie Mannes/File Photo
AnalysisBusinessEconomyElectric Vehicles (EVs)IndustryManufacturingTrade

Northvolt crisis may be make or break for Europe’s EV battery ambitions

Northvolt’s bankruptcy highlights Europe’s struggle to build a battery industry amid Chinese dominance and slowing EV demand.

FILE PHOTO: Northvolt CEO Peter Carlsson poses for a picture at the company's offices in Stockholm, Sweden, March 7, 2017. REUTERS/Niklas Pollard/File Photo
BusinessElectric Vehicles (EVs)NewsTransport

Northvolt CEO steps down, saying group needs up to $1.2 billion

Northvolt went from being Europe's best shot at a home-grown electric-vehicle battery champion to struggling to stay afloat within a year.

FILE PHOTO: A general view of Northvolt facility in Skelleftea, Sweden is seen in this undated handout photo. Northvolt/Handout via REUTERS/File Photo
BusinessElectric Vehicles (EVs)NewsSemiconductor

Sweden’s Northvolt files for bankruptcy, in blow to Europe’s EV ambitions

Northvolt files for U.S. Chapter 11 bankruptcy, seeking to restructure $5.8B debt while securing $245M to sustain European battery hopes.

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