{"id":370607,"date":"2025-03-18T07:45:55","date_gmt":"2025-03-18T06:45:55","guid":{"rendered":"https:\/\/climatescience.press\/?p=370607"},"modified":"2025-03-18T07:45:57","modified_gmt":"2025-03-18T06:45:57","slug":"northvolt-file-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=370607","title":{"rendered":"Northvolt File for\u00a0Bankruptcy"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

Go woke, go broke!<\/strong><\/p>\n\n\n\n

From Northvolt:<\/strong><\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

Stockholm, Sweden, 12 March 2025 \u2013 Following an exhaustive effort to explore all available means to secure a viable financial and operational future for the company, the Board of Directors of Northvolt AB today announced that it has filed for bankruptcy in Sweden.<\/em><\/p>\n\n\n\n

Like many companies in the battery sector, Northvolt has experienced a series of compounding challenges in recent months that eroded its financial position, including rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand. Further to this backdrop, the company has faced significant internal challenges in its ramp-up of production, both in ways that were expected by engagement in what is a highly complex industry, and others which were unforeseen.<\/em><\/p>\n\n\n\n

Despite pursuing all available options to negotiate and implement a financial restructuring, including a Chapter 11 restructuring process in the United States, and despite liquidity support from our lenders and key counterparties, the company was unable to secure the necessary financial conditions to continue in its current form. The Board therefore determined that this is the only available solution while the company pursues all realistic options to obtain financing to continue operating during the Swedish bankruptcy process.<\/em><\/p>\n\n\n\n

It should be underscored that in engaging in this process, the company found significant traction with potential partners and interest from investors \u2014 something which illustrates the strong underlying value and future potential of Northvolt and is testament to its accomplishments. Ultimately, however, with limited time and financial resources available, the company was unable to conclude the necessary agreements to secure its future.<\/em><\/p>\n\n\n\n

Following the filing, a Swedish court-appointed trustee will now oversee the process, including the sale of the business and its assets and settlement of outstanding obligations. The process will be conducted in accordance with Swedish insolvency law, with a focus on ensuring an orderly transition for employees, partners, and creditors. Northvolt has nominated Mikael Kubu as Trustee.<\/em><\/p>\n\n\n\n

The entities Northvolt AB, Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB filed with the Swedish court. Northvolt Germany and Northvolt North America are not filing for bankruptcy in their respective jurisdictions. As wholly owned subsidiaries of Northvolt AB, any decisions regarding these entities will be made by the court-appointed trustee of Northvolt AB in consultation with the Group\u2019s lenders at the appropriate time.<\/em><\/p>\n\n\n\n

Northvolt recognizes the significant impact of this outcome on its employees, suppliers, customers, and other stakeholders. The company is working closely with relevant authorities, trade unions, and partners to ensure that employees receive the support and information they need during this transition.<\/em><\/p>\n\n\n\n

https:\/\/www.mynewsdesk.com\/se\/northvolt\/pressreleases\/northvolt-files-for-bankruptcy-in-sweden-3374738<\/a><\/p>\n\n\n\n

Obviously two major factors lie behind this bankruptcy:<\/p>\n\n\n\n

    \n
  1. The lack of demand for EVs in Europe<\/li>\n\n\n\n
  2. The impossibility of competing profitably with batteries made in China<\/li>\n<\/ol>\n\n\n\n

    There is no prospect of either of these two challenges being resolved soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Go woke, go broke!
    \nFollowing an exhaustive effort to explore all available means to secure a viable financial and operational future for the company, the Board of Directors of Northvolt AB today announced that it has filed for bankruptcy in Sweden.<\/p>\n","protected":false},"author":121246920,"featured_media":370612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818526,691818618,691833876,691829344,691818876,691821397],"class_list":{"0":"post-370607","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-bankruptcy","9":"tag-energy-transition","10":"tag-green-and-sustainable-future","11":"tag-northvolt","12":"tag-sweden","13":"tag-swedish-court","15":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/0Northvolt.jpg?fit=1800%2C1200&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1ypx","jetpack-related-posts":[{"id":353826,"url":"https:\/\/climatescience.press\/?p=353826","url_meta":{"origin":370607,"position":0},"title":"Hundreds Of Millions in Subsidies for German Gigafactory in Jeopardy as Northvolt Files Chapter 11","author":"uwe.roland.gross","date":"10\/12\/2024","format":false,"excerpt":"All that glisters green is not gold\u2026 The electric car market is reeling in Europe\u2026Germany\u2019s electric car ambitions have taken another body blow as Swedish Northvolt declares bankruptcy in USA.","rel":"","context":"In \"bankruptcy\"","block_context":{"text":"bankruptcy","link":"https:\/\/climatescience.press\/?tag=bankruptcy"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/12\/0Hero-northvolt-labs.jpg?fit=1200%2C750&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/12\/0Hero-northvolt-labs.jpg?fit=1200%2C750&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/12\/0Hero-northvolt-labs.jpg?fit=1200%2C750&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/12\/0Hero-northvolt-labs.jpg?fit=1200%2C750&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/12\/0Hero-northvolt-labs.jpg?fit=1200%2C750&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":352232,"url":"https:\/\/climatescience.press\/?p=352232","url_meta":{"origin":370607,"position":1},"title":"Northvolt Goes Bankrupt","author":"uwe.roland.gross","date":"25\/11\/2024","format":false,"excerpt":"Swedish electric vehicle (EV) battery manufacturer Northvolt filed for bankruptcy after the company\u2019s dreadful liquidity position left the business with only one week\u2019s worth of cash to fund its operations.","rel":"","context":"In \"bankruptcy\"","block_context":{"text":"bankruptcy","link":"https:\/\/climatescience.press\/?tag=bankruptcy"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0image-77.webp?fit=1080%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0image-77.webp?fit=1080%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0image-77.webp?fit=1080%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0image-77.webp?fit=1080%2C720&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0image-77.webp?fit=1080%2C720&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":379942,"url":"https:\/\/climatescience.press\/?p=379942","url_meta":{"origin":370607,"position":2},"title":"The Northvolt drama","author":"uwe.roland.gross","date":"26\/05\/2025","format":false,"excerpt":"This drama about the battery factory is entering the next round. The NDR\u00a0reports on the closure of the main plant in Sweden.","rel":"","context":"In \"battery manufacturer\"","block_context":{"text":"battery manufacturer","link":"https:\/\/climatescience.press\/?tag=battery-manufacturer"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-08_43_26.png?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-08_43_26.png?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-08_43_26.png?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-08_43_26.png?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0ChatGPT-Image-26.-Mai-2025-08_43_26.png?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":346735,"url":"https:\/\/climatescience.press\/?p=346735","url_meta":{"origin":370607,"position":3},"title":"Electric car battery maker\u2019s value slashed by\u00a085pc","author":"uwe.roland.gross","date":"14\/10\/2024","format":false,"excerpt":"Investors are preparing to write off nearly the entire value of their stakes in\u00a0Swedish battery giant Northvolt\u00a0as a crisis at the troubled European green technology champion deepens.","rel":"","context":"In \"Automotive industry\"","block_context":{"text":"Automotive industry","link":"https:\/\/climatescience.press\/?tag=automotive-industry"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Northvolt-Ett-gigafactory-in-northern-Sweden.-m.jpg?fit=1200%2C680&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Northvolt-Ett-gigafactory-in-northern-Sweden.-m.jpg?fit=1200%2C680&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Northvolt-Ett-gigafactory-in-northern-Sweden.-m.jpg?fit=1200%2C680&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Northvolt-Ett-gigafactory-in-northern-Sweden.-m.jpg?fit=1200%2C680&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0Northvolt-Ett-gigafactory-in-northern-Sweden.-m.jpg?fit=1200%2C680&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":334252,"url":"https:\/\/climatescience.press\/?p=334252","url_meta":{"origin":370607,"position":4},"title":"The abrupt end of a miracle battery","author":"uwe.roland.gross","date":"23\/06\/2024","format":false,"excerpt":"Perhaps the story about a supposed revolution in battery technology is also somewhat symptomatic of how the media work and fail. 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