Northvolt, Europe's Hope for a Battery Champion, Files for Bankruptcy

By The New York Times | Nov 21, 2024 at 01:11 PM EST

Northvolt, a Swedish battery maker, filed for bankruptcy protection in the U.S. due to financial struggles, losing contracts and accidents. The company plans to restructure, but its woes reflect challenges faced by EV battery manufacturers in Europe and the U.S. compared to thriving Chinese competitors.

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