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Northvolt Declares Bankruptcy, Ending Europe's EV Battery Ambitions

  • Northvolt, a battery cell maker for electric vehicles, has filed for bankruptcy in Sweden, marking a significant setback for European EV battery development.
  • The company's debt exceeded $8 billion as of January 2025.
  • This bankruptcy is among the largest in Swedish corporate history, following the fall of Saab Automobile.
  • Porsche has started looking for alternative suppliers after Northvolt's bankruptcy announcement.
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Center

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

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Lean Left

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.

·Copenhagen, Denmark
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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.

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Far Right

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.

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trend.sk broke the news in on Tuesday, March 11, 2025.
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