Northvolt reportedly in talks with China’s CATL
Struggling Swedish battery manufacturer Northvolt is reportedly in talks with several Asian battery companies, among them Contemporary Amperex Technology Co. Ltd.
Swedish newspaper Dagens Nyheter reported the companies have been in discussions for some time now, citing undisclosed sources. Another Swedish newspaper, Dagens Industri, has previously reported that Northvolt has been negotiating with Chinese players about possible investments.
Northvolt has been struggling to get a stable footing, both financially and operationally, for a while now. In late November the company filed for Chapter 11 bankruptcy protection in the US. A day after the filing it became official that Peter Carlsson will be stepping down as CEO of Northvolt and take on a role as senior adviser and member of the board.
A Northvolt spokesman declined to comment on the information about discussions with CATL when contacted by Bloomberg News.
Pan Jian, CATL co-founder, told the German newspaper Frankfurter Allgemeine Sonntagszeitung in an interview that the company has no plans to invest in the struggling Swedish company, simply stating "is not a priority for us."
