An EV-battery maker that raised $15 billion from investors including Goldman Sachs filed for bankruptcy protection after almost running out of cash
Northvolt has struggled to boost production at its Swedish battery factory and recently announced 1,600 layoffs amid weak consumer demand for EVs.
Goldman Sachs takes $1.4b hit on green battery investment
The US bank is the second-largest shareholder in Swedish battery maker Northvolt which has filed for Chapter 11 bankruptcy.
Swedish Battery Maker Northvolt Files for Chapter 11 Protection
Northvolt, a major Swedish battery maker, filed for bankruptcy in the U.S., seeking to restructure the debt it had taken on to pay for its rapid expansion.
Northvolt's bankruptcy filing won't affect Quebec battery plant, says economy minister
Quebec Economy Minister Christine Fréchette is reassuring the province following the announcement that Northvolt, the Swedish battery manufacturer, has filed for bankruptcy protection.
Northvolt CEO resigns as battery maker starts multibillion-dollar restructuring
Stockholm-based company pinning recovery hopes partly on Quebec plant as court-monitored restructuring process begins
EV Battery Maker Northvolt Seeks Bankruptcy Protection in US
Northvolt has been seen as a cornerstone of European attempts to catch up with China and the United States in the production of battery cells, a crucial component of
Swedish EV battery maker Northvolt files for bankruptcy protection in US
Swedish battery-cell maker Northvolt AB has filed for chapter 11 bankruptcy protection in the US amid a slowing EV market.
Goldman on the hook for nearly $900M loss on Northvolt stake: report
Goldman Sachs (NYSE:GS) will take a nearly $900M hit after Swedish EV battery maker Northvolt filed for chapter 11 bankruptcy ...
Goldman Funds Take $900 Million Hit on Northvolt, FT Says
Funds managed by Goldman Sachs Asset Management are set to write off almost $900 million on investments in Swedish battery ...
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Northvolt’s Collapse Countdown Started With BMW Pulling the Plug
In addition to BMW and Volkswagen AG, Northvolt’s top investors included Goldman Sachs’s asset management arm, ...
Northvolt crisis may be make or break for Europe's EV battery ambitions
Northvolt's financial collapse deals a blow to Europe's plan to set up its own battery industry to power electric cars, ...
Europe’s electric car revolt claims its biggest scalp yet
Analysts at Rho Motion pared back their predictions for EV sales by a quarter, to 8.3m by 2030. In Europe, home to ...