5,000 jobs at risk as Swedish battery giant files for bankruptcy
March 12, 2025
The Swedish battery manufacturer Northvolt has officially filed for bankruptcy in Sweden. The company says that it reached the decision following an "exhaustive effort to explore all available means to secure a viable financial and operational future for the company."
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Northvolt sells industrial battery division to Scania
February 18, 2025
Northvolt has signed a Sale and Purchase Agreement to divest its Systems Industrial division to Scania
Scania in last-ditch effort to resuscitate Northvolt
February 03, 2025
Each member of Scania’s staff is supposed to be paired with a Northvolt shift manager or team leader to coach teams and drive improvements and implement standards, the Reuters report said.
Volvo Cars takes full ownership of Novo Energy
January 29, 2025
The Swedish car manufacturer has signed a share purchase agreement relating to Northvolt’s shares in Novo Energy, leading to Volvo Cars taking full ownership of the Novo Energy joint venture.
Novo Energy restructures – reduces workforce by 30%
January 21, 2025
Novo Energy, the joint venture between Volvo Cars and Northvolt, has announced plans to cut costs and will reduce its workforce by 30%.
Hydro acquires remaining shares in Hydrovolt
January 14, 2025
Norway's Hydro says it has signed an agreement to acquire the remaining shares in the battery recycler Hydrovolt, Northvolt's and Hydro's battery recycling joint venture, for NOK 78 million
Germany still believes in Northvolt investment
January 06, 2025
Schleswig-Holstein state Prime Minister Daniel Günther has said he supports the building of a facility in northern Germany. The politician asserts that he believes in the Northvolt project and is optimistic. He stressed that the battery cell factory will be built in Heide, the politician emphasized in an interview with the German Press Agency (NAP).
Northvolt reportedly in talks with China’s CATL
December 02, 2024
Struggling Swedish battery manufacturer Northvolt is reportedly in talks with several Asian battery companies, among them Contemporary Amperex Technology Co. Ltd.
Galp scraps joint venture plans with Northvolt
November 28, 2024
Galp has decided not to proceed with the construction of the Aurora project. Originally a 50/50 partnership between Galp and Northvolt to construct a lithium conversion plant, in Portugal.
Goldman Sachs takes $900 million hit on Northvolt
November 25, 2024
The Goldman Sachs private equity funds, together the 2nd-largest shareholders in Swedish battery maker Northvolt, are set to write down their $896 million investment to zero by year end, FT reports.
Northvolt CEO Peter Carlsson steps down
November 22, 2024
Carlsson will take on a role as senior adviser and remain a member of the board. Northvolt has filed for Chapter 11 bankruptcy protection in the United States.
Northvolt files for bankruptcy in setback to Europe’s EV ambitions
November 22, 2024
Swedish EV battery maker Northvolt said it has only enough cash to support operations for about a week and it had secured USD 100 million in new financing for the bankruptcy process.
Scania in talks with EV battery suppliers, CEO says
November 18, 2024
Scania wants half of its vehicle sales to come from electric trucks by 2030. Currently, they make up less than 1% of sales, with the rollout hit by production and delivery problems at Northvolt.
Volvo Cars looking to buy out Northvolt from Novo Energy
October 30, 2024
Volvo Cars says that the company is initiating a process to take full ownership of the Novo Energy joint venture.
Northvolt Ett CEO Mark Duchesne steps down
October 09, 2024
Mark Duchesne, CEO of Northvolt Ett, the Swedish battery company’s manufacturing facility in Skellefteå, is stepping down from his position. This follows months of significant economic challenges for the company.
Northvolt subsidiary managing its Swedish expansion files for bankruptcy
October 08, 2024
Swedish battery manufacturer Northvolt has announced that its subsidiary, Northvolt Ett Expansion AB, has filed for bankruptcy.
Sweden puts Northvolt’s $1.5 billion funding guarantee on hold
October 07, 2024
Northvolt had agreed to a USD 5 billion green loan package with a group of lenders, intended to pay for a planned tripling of its battery-making capacity. This expansion has now been shelved.
Northvolt to cut 1,600 jobs in Sweden
September 23, 2024
The Swedish battery manufacturer has been struggling for some time now. Earlier in September Northvolt announced that it would streamline its operations, focusing on large-scale cell manufacturing whilst reducing costs – something that would entail redundancies. Now, the numbers are in.
Volvo delays construction of battery plant in Sweden
September 16, 2024
Construction for Volvo’s new battery production plant in Sweden was expected to start in 2025. But the start date has now been pushed back by between 12 and 24 months, the WSJ report said.
Northvolt streamlines its operations – reducing its workforce
September 10, 2024
In streamlining operations, battery company Northvolt says it will initially focus on large-scale cell manufacturing whilst reducing costs and exploring future partnerships to secure its position in the global battery landscape.
Northvolt shifts R&D from US to Sweden
August 20, 2024
Northvolt says it will shift the development of its next-generation lithium-metal battery technology from California to its R&D campus, Northvolt Labs, in Västerås, Sweden.
Gothenburg's tech cluster strengthens Sweden’s automotive industry
August 13, 2024
With a growing tech sector and significant investments in electrification, Gothenburg has become a Swedish centre for innovation in the automotive industry. Here, traditional actors and new players meet to shape the mobility of the future.
Northvolt starts construction of German gigafactory
March 26, 2024
Swedish battery manufacturer Northvolt has officially stated the construction of its battery gigafactory – Northvolt Drei – in the German city of Heide.
Novo energy start building Sweden’s second, and Gothenburg’s first gigafactory
March 07, 2024
Novo Energy, the joint venture between Northvolt and Volvo Cars, has officially started the construction of its battery factory in Torslanda, Gothenburg near Volvo Cars' manufacturing plant.
Northvolt raises $5 billion to expand its battery network
January 16, 2024
Swedish battery manufacturer Northvolt has just signed the largest green loan raised in Europe to date, which will facilitate the expansion of Europe's first homegrown gigafactory, Northvolt Ett, and also the realisation of Northvolt's plans for battery recycling.
EU Commission approves German State aid for Northvolt
January 09, 2024
The European Commission has approved a EUR 902 million German measure to support Northvolt in the construction its battery production plant in the city of Heide, Germany.
Skeleton hires industry veteran to drive growth
December 05, 2023
Skeleton Technologies has attracted former Northvolt Senior Director of Manufacturing Tobias Hüppe. He joins Skeleton as the company's new Chief Operations Officer (COO) and will utilise his experience in the battery industry as he steers the company's manufacturing expansion.
Northvolt develops sodium-ion battery
November 21, 2023
Swedish battery manufacturer Northvolt says it reached a breakthrough in the development of a sodium-ion battery, something that could minimise the dependence on long supply chains.
The Polish electronics industry is anything but static
October 17, 2023
There’s been a lot of movement within the Polish electronics industry during the year. Evertiq has listed some of the bigger events that have taken place in the country during 2023.
Germany is looking to combat the shortage of workers
October 10, 2023
Germany is launching an initiative to combat the shortage of skilled workers by creating a training centre for battery specialists in Itzehoe.
Volvo and Northvolt break ground on gigafactory
September 29, 2023
Construction of Volvo Cars and Northvolt’s joint Li-on battery gigafactory in Gothenburg, Sweden, is now officially underway.
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