Northvolt AB filed for bankruptcy in Sweden, bringing to an end a company that was once seen as the future of Europe’s battery production.
Northvolt AB, once considered Europe's leading EV battery producer, filed for bankruptcy in Sweden after failing to secure a rescue deal. The company, facing financial difficulties and significant losses, was unable to finalize agreements needed for its future. While Northvolt Germany and Northvolt North America are not included in the filing, the bankruptcy raises concerns about government support for industries and EU industrial policy.