Northvolt Declares Bankruptcy, Ending Europe's EV Battery Ambitions

The news of the week as seen by our head of the political office.

When Northvolt filed for bankruptcy on Wednesday morning, the dream of a European battery factory was effectively extinguished. What remains is a municipality that bet everything. Danish pension funds are also losing money.

Government ‘working hard’ to find buyer for Quebec EV battery gigafactory after Northvolt runs out of road

Canada’s federal government has started an urgent search to find a buyer for Northvolt’s giant battery factory in Quebec, after its Swedish parent company on Wednesday filed for bankruptcy.

The car battery industry is struggling with the location in Europe. Now Northvolt's insolvency application provides for negative headlines. Previously, S-Volt stopped its major targets in Saarland. The triggers and consequences for the location.

Northvolt, Robert Habeck's hope for a European battery production for e-cars, has now filed for bankruptcy in Sweden. The future of the planned factory in Schleswig-Holstein is now uncertain – the next green failure, and again mass taxpayers' money was sunk. The company had received 600 million euros from the state-owned KfW bank, which has now been recovered from the federal government and the state of Schleswig-Holstein.

Swedish EV battery maker founded by two ex-Tesla executives files for bankruptcy

Northvolt, founded in 2016, had been struggling under a mountain of debt, slow demand, and production delays, leading to the bankruptcy.