Northvolt’s Swedish battery plant-expansion company files for bankruptcy
Just last month, in September 2024, Northvolt decided to cancel the expansion of its Northvolt Ett battery cell factory in Skellefteå, Sweden. Now, the subsidiary managing the expansion has filed an insolvency claim. In a statement, Northvolt underlined that the insolvency application filed with the Stockholm District Court relates only to the subsidiary Northvolt Ett Expansion AB.
The Swedish battery maker explained further that the insolvent company is just one of over 20 different entities within the Northvolt Group. The halting of plans and insolvency claim, according to the statement, will enable the Group to concentrate its resources towards “accelerating production in large-scale cell manufacturing within the fully-built, first phase of Northvolt Ett and delivering on commitments to its automotive customers.”
When revealing that the plans for expanding the Swedish battery cell manufacturing plant were cancelled, Northvolt Group also said it would be reducing its workforce by around 1,600 at three locations. Internationally, 20 per cent of jobs are also being cut.
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