Northvolt has been looking for money since mid-last year and filed for Chapter 11 in the U.S. in November with $5.84 billion in debt in one of the largest bankruptcies of 2024.

Northvolt filed for bankruptcy in Sweden on March 12, making it one of the country's largest corporate failures and effectively ending Europe's best hope of developing a rival to challenge China.

By Nina Kienle Battery maker Northvolt plans to wind down and eventually cease production at its last remaining factory site in northern Sweden as it looks for a buyer, its bankruptcy trustee said.

From a broader perspective, Northvolt's crisis and ongoing decline has already delivered a significant blow to Europe's EV sector amid plenty of instability in the industry, while highlighting the ...

One of his tasks was to hire battery cell designers, mostly from Japan, South Korea and China, to bring to Britishvolt, the UK’s answer to Northvolt. His team found 500 people in the world who ...