From TechCrunch, November 21:
Beleaguered Swedish battery manufacturer Northvolt announced today that it was filing for bankruptcy in the U.S., striking a blow to Europe’s ambitions for homegrown lithium-ion batteries.
The company reportedly chose Chapter 11 in an effort to right its finances.
Northvolt, which had soared for years on the back of strong fundraising and a string of announcements about new facilities, has stumbled of late. It laid off 1,600 employees, about 20% of its workforce, in September, and unloaded assets in November from its ill-fated purchase of Bay Area battery startup Cuberg....
....MUCH MORE
Batteries: Sweden's Northvolt Has Hired A Restructuring Expert
