Northvolt Files for Bankruptcy in Blow to Europe’s Battery Hopes

Source link : https://love-europe.com/2024/11/21/business/northvolt-files-for-bankruptcy-in-blow-to-europes-battery-hopes/

Northvolt AB filed for bankruptcy protection in the US after failing to secure a lifeline for its battery-cell business in a faltering market for electric vehicles.

The Swedish company filed for Chapter 11 in the Southern District of Texas, it said in a statement on Thursday. The court process protects the company from creditors, allowing operations to continue as it restructures its balance sheet.

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Publish date : 2024-11-21 09:47:00

The post Northvolt Files for Bankruptcy in Blow to Europe’s Battery Hopes first appeared on Love Europe.

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Author : love-europe

Publish date : 2024-11-21 18:26:23

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