US EditionSwedish Northvolt Pulls Plug On E-Car Plant…But Germans Keep Denying E-Car Reality
- In November 2024, facing worsening financial difficulties, Northvolt initiated bankruptcy protection proceedings under Chapter 11, and its CEO, Peter Carlsson, stepped down from his position.
- The move followed mounting production inefficiencies, delivery failures, a $1 billion loss in 2023, and the cancellation of key contracts like BMW's $2 billion deal.
- Northvolt announced it will discontinue battery production at its main Skellefteå plant by June 30, 2025, affecting around 900 workers and reducing staff significantly.
- Bankruptcy trustee Mikael Kubu said that though searches for buyers continue, no immediate takeover is foreseeable, while German and other foreign units remain solvent but uncertain.
- This insolvency highlights Europe's challenges competing with dominant Asian battery producers and suggests the need for greater EU-wide support for green energy ventures.
23 Articles
23 Articles
He promised 3000 jobs, a battery factory "of world format" and a "great throw for the energy turnaround".
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Watts Up With That?Swedish Northvolt Pulls Plug On E-Car Plant…But Germans Keep Denying E-Car Reality
Denial of failure in Germany…leaders insist e-car production plants are needed (even though cars aren’t selling). The Swedish Northvolt Drama By KlimaNachrichten This drama about the battery factory has entered the next round. NDR German public broadcasting reports on the closure of the main plant in Sweden. There is more bad news from battery manufacturer Northvolt: The insolvency administrator has announced that battery cell production in Sk…
In 2024, crisis meetings began to increase at Northvolt. Costs skyrocketed while management tried to maintain a facade of control. This is described in a new book about the company – written by a former employee.
The Swedish battery manufacturer Northvolt completely ceases to operate after the insolvency. What consequences this has for the German subsidiary is unclear.
Last but not least, there was only one customer: the battery cell manufacturer Northvolt, supported by a lot of German tax money, ends production in North Sweden. Schleswig-Holstein is currently arguing about the treatment of the consequences.
On Thursday morning, it was announced that Northvolt's operations in Skellefteå will be closed down. Now, bankruptcy administrator Mikael Kubu says that Labs in Västerås is close to being sold.
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