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The northern Northern Europe, Europe’s latest blow for bankruptcy in Sweden on Wednesday, has ended the attempts to create a Braernaut that produces a battery that can rivals the Chinese giants.
Although the beginning of Sweden increased more than $ 14 billion, it has recently been shortened. Northvolt was previously Possibution in chapter 11 In the United States in November. Since then, it has been competing to collect new funds to protect the cash and pass without bankruptcy.
These efforts have fallen short.
“NORTHVOLT has experienced a number of complex problems in recent months, financial condition, including capital expenditures, geopolitical proportions, and market demand,” he made changes in the market demand, “he said. statement.
European countries and cars, EU have linked hope to Northvolt, which represents a bold bet on battery production. Today, most of the battery factories are built and managed by Chinese, Japanese or Korean companies.
The patient provided the manufacturer $ 5 billion debt agreement In January 2024, he struggled to bring income in burning the $ 100 million report in the month.
NORTHVOLT FABSHIPS, BMW has made a more determined turn when he canceled a $ 2 billion contract in June 2024. The battery manufacturer could not deliver on time.
To protect the cash, put 1600 employees and considered a bay area in 2021, the Bay area regarded the beginning of the battery.
Northvolt asked additional funding from lending, but they could not agree with you. This combined with previous failures was not enough to produce the company’s runway and not sufficient to stretch a solid customer base.
