US EditionNorthvolt to Stop Production at End of June Without Buyer
- In March 2024, Swedish battery manufacturer Northvolt filed for bankruptcy and announced that it intends to cease operations at its primary factory in Skellefteå by June 30 if no buyer is found.
- Northvolt struggled under heavy debt and slow demand, leaving only truck maker Scania as its single customer before its search for investors failed.
- Bankruptcy trustee Mikael Kubu managed a scaled-down battery cell production with about 1,700 retained staff but said a gradual wind-down would begin absent a sale.
- Mikael Kubu announced that Northvolt Ett’s battery cell manufacturing will be gradually phased out, aiming to fully stop operations by June 30, due to the absence of any immediate buyers.
- Northvolt’s shutdown marks one of Sweden’s largest corporate failures and signals a setback for Europe’s ambitions to compete with China in EV battery production.
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Northvolt Broke: Habeck's Favorite Company Completely Shuts Down Operation
At the Swedish manufacturer Northvolt, the lights are now also running out at the most important location. The plant in Skellefteå in northern Sweden will be completely shut down by 30 June at the latest.
·Berlin, Germany
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Total News Sources26
Leaning Left4Leaning Right4Center3Last UpdatedBias Distribution36% Left, 36% Right
Bias Distribution
- 36% of the sources lean Left, 36% of the sources lean Right
36% Right
L 36%
C 27%
R 36%
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