The Government Hopes for a New Northvolt Owner

The Government hopes for a new long-term owner for Northvolt. This is a functioning business that many actors are dependent on, says Energy and Trade Minister Ebba Busch.

» Published: March 12 2025

The Government Hopes for a New Northvolt Owner
Photo: Viktoria Bank/TT

Share this article

Ebba Busch (Christian Democrats) regrets Wednesday's bankruptcy announcement from Northvolt and describes it as a "tough day for everyone".

This is a message that we had hoped would not have to be given. The hope is that they will be able to see to it that the business continues to operate during the bankruptcy proceedings, she says at a press conference.

Not least so that they do not lose personnel or that the facility risks losing value.

Busch says that the government is in close dialogue with the bankruptcy administrator.

I clearly hope that the business will be able to find a new long-term owner.

Surviving the Crisis

Also present at the press conference is Minister for Employment and Integration Mats Persson (The Liberals).

Those affected by this bankruptcy should not be left without help, he says.

But it's not about any special support, the employees will have to turn to the Employment Agency and use the systems and benefits that are available to everyone who is about to lose their job.

The ministers had no information about a potential support package for Skellefteå municipality, but Ebba Busch will travel there to meet with the company, the municipality, and other stakeholders.

Where is the Plan?

The opposition is demanding a clear plan from the government.

"Northvolt has been struggling for a long time. I therefore assume that the government has a plan to ensure that the factory stays in Sweden", writes S leader Magdalena Andersson on X.

The Left Party is also demanding that the government takes action to ensure that battery production can stay in Sweden.

"It has never been an option for us to have the state step in and rescue capital owners who have so grossly mismanaged the business. But with the bankruptcy, the previous owners are out of the picture, and now the state needs to step in and see if it's possible to rescue the business", writes V's economic policy spokesperson Ida Gabrielsson in a comment.

The Social Democrats' spokesperson on labor market issues, Ardalan Shekarabi, says he is shocked by the government's lack of information.

There were six people at the press conference, but nothing new came out.

The Center Party's business policy spokesperson Elisabeth Thand Ringqvist tells Expressen that she will call Ebba Busch to the business committee.

I'm going to call Ebba Busch to understand what effect this has on subcontractors and on very large parts of the ecosystem that Northvolt has worked with, she says to the newspaper.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Nvidia Stock Drops 2.7% Amid New York Market Decline
1 MIN READ

Nvidia Stock Drops 2.7% Amid New York Market Decline

Trump Criticizes EU's $33.9 Billion Fine on Google, Threatens Trade Probe
2 MIN READ

Trump Criticizes EU's $33.9 Billion Fine on Google, Threatens Trade Probe

US Job Market Slows with Only 22,000 New Jobs in August
2 MIN READ

US Job Market Slows with Only 22,000 New Jobs in August

Tesla Board Proposes New Bonus Plan for Elon Musk
1 MIN READ

Tesla Board Proposes New Bonus Plan for Elon Musk

13 Suspected of Insider Trading After Dawn Raid
1 MIN READ

13 Suspected of Insider Trading After Dawn Raid

18 Charged in Major Insider Trading Case in Sweden and Norway
1 MIN READ

18 Charged in Major Insider Trading Case in Sweden and Norway

Skandiabanken Offers Lowest Mortgage Rates in August
1 MIN READ

Skandiabanken Offers Lowest Mortgage Rates in August

Stockholm Stock Market Rises for Third Consecutive Day
1 MIN READ

Stockholm Stock Market Rises for Third Consecutive Day

Danish Energy Giant Ørsted Lowers Profit Expectations for This Year
1 MIN READ

Danish Energy Giant Ørsted Lowers Profit Expectations for This Year

Foreign Ownership Boosts Swedish Economy with Productivity Growth
1 MIN READ

Foreign Ownership Boosts Swedish Economy with Productivity Growth

Calm Housing Market Spurs Speculator Interest
2 MIN READ

Calm Housing Market Spurs Speculator Interest

Asian Stock Markets Rise Amid US-Japan Tariff Agreement
1 MIN READ

Asian Stock Markets Rise Amid US-Japan Tariff Agreement

USA and Japan Reach New Trade Agreement on 15% Tariffs
1 MIN READ

USA and Japan Reach New Trade Agreement on 15% Tariffs

Activity Toys Pose Serious Injury Risks for Children in EU Survey
1 MIN READ

Activity Toys Pose Serious Injury Risks for Children in EU Survey

Hexagon Sells Software Business for 30 Billion Kronor
1 MIN READ

Hexagon Sells Software Business for 30 Billion Kronor

US Stock Market Sees Broad Gains Amid Labor Market Weakness
1 MIN READ

US Stock Market Sees Broad Gains Amid Labor Market Weakness

Ørsted Sues Trump Administration Over Halted US Wind Project
1 MIN READ

Ørsted Sues Trump Administration Over Halted US Wind Project

US Private Sector Adds 54,000 Jobs in August, Below Expectations
1 MIN READ

US Private Sector Adds 54,000 Jobs in August, Below Expectations

Goldman Sachs: Fed Uncertainty Could Propel Gold Prices
1 MIN READ

Goldman Sachs: Fed Uncertainty Could Propel Gold Prices

Food Chains in Sweden Promise Price Cuts with VAT Reduction
3 MIN READ

Food Chains in Sweden Promise Price Cuts with VAT Reduction