From Bloomberg via Canada's Financial Post, November 20:
Sweden’s Northvolt AB hired restructuring expert Paul O’Donnell to oversee its main factory unit, as time runs short for the struggling battery maker to mend its finances outside of bankruptcy court.
O’Donnell, who has helped Thames Water engage with creditors, will become chairman of Northvolt Ett AB, the subsidiary that contains the flagship cell-manufacturing plant in northern Sweden. Northvolt has struggled to raise US$300 million in emergency funding, with Bloomberg News reporting on Friday that talks on the package were on the verge of collapse....
....MUCH MORE
October 8
So far it's compartmentalized but the parent company is also facing financing and sales problems, more after the jump....***...There was a reason we titled September 5's post "Portents" - "Portents: Sweden's Northvolt may postpone $5bn Quebec battery plant by up to 18 months". It was a sign of things to come, including September 25's Batteries: "Sweden’s Northvolt to Cut 20% of Staff Amid Liquidity Crunch"
