Heavy decision on Northvolt this week

Published:

Heavy decision on Northvolt this week
Photo: Jonas Westling/TT

The battery manufacturer Northvolt, which was declared bankrupt last week, is facing a crucial decision. The bankruptcy trustee expects to be able to determine within the next few days whether the operations will be shut down or not.

"We are working intensively to try to find conditions for continuing the operations. A decision on this will be made during the current week", writes the administrator Mikael Kubu in an email to TT.

The statement is made since Kubu last week flagged that the primary task was to hold talks with Northvolt's major customers, to see if it is possible to continue the operations in the hunt for buyers of assets or operations.

Production underway

Production at the battery factory in Skellefteå was paused for a day in connection with the bankruptcy application on Wednesday, March 12, when the staff was informed about the development.

Since Thursday morning, at seven o'clock, we started again. So now we are running production and it is on behalf of the administrator, says Matti Kataja, communications manager at Northvolt.

The overall picture is that we have seen a positive trend during the past year, which has continued into the new year. And so far, we have delivered according to our customer contracts, he adds.

He does not want to comment on how the order book or order intake looks like now.

It's not something we comment on in detail, our customer contracts. And we don't share production figures in detail.

Uncertain situation

At the battery factory in Skellefteå – the main facility in the Northvolt group – almost 3,000 people work, according to Kataja. He adds that he has not received any signals that a larger number of employees have chosen not to go to work or resigned in the uncertain situation that prevails.

I have no such information, he says.

Northvolt applied for and was declared bankrupt after the company, under Chapter 11 protection in the USA, had tried for several months to get a debt reconstruction and find new capital to continue the debt- and loss-burdened operations.

Besides the nearly 3,000 employees in Skellefteå, the company has hundreds of employees in, among other places, Stockholm and Västerås.

Tags

Author

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

More news

Iran Approves Plan to Remove Four Zeros from Currency

Iran Approves Plan to Remove Four Zeros from Currency

Bitcoin Hits New Record High at Over $125,689

Bitcoin Hits New Record High at Over $125,689

Why Saudi Arabia Seeks to Acquire Gaming Giant EA

Why Saudi Arabia Seeks to Acquire Gaming Giant EA

Record Number of Apartments for Sale on Hemnet in September

Record Number of Apartments for Sale on Hemnet in September

US Tariffs on Swedish Timber Threaten Sawmill Profitability

US Tariffs on Swedish Timber Threaten Sawmill Profitability

Tips for Selling Gold: What to Consider Beforehand

Tips for Selling Gold: What to Consider Beforehand

Gold Prices Surge as Complaints Against Private Sellers Rise

Gold Prices Surge as Complaints Against Private Sellers Rise

US Stock Market Closes Mixed After Strong Week

US Stock Market Closes Mixed After Strong Week

Nelly Wins Case Against Shein but Must Pay Legal Costs

Nelly Wins Case Against Shein but Must Pay Legal Costs

Offline Card Purchases Coming by Summer 2026 in Sweden

Offline Card Purchases Coming by Summer 2026 in Sweden

Storm Amy Drives Electricity Prices to Zero in Southern Sweden

Storm Amy Drives Electricity Prices to Zero in Southern Sweden

Blue and yellow IKEA continues to grow in the US - buys a large property in central New York as part of its expansion

Blue and yellow IKEA continues to grow in the US - buys a large property in central New York as part of its expansion

Clas Ohlson Warehouse Staff Face Termination Over New Agreement

Clas Ohlson Warehouse Staff Face Termination Over New Agreement

Stockholm Leads Europe in Stock Market Growth with Verisure Listing

Stockholm Leads Europe in Stock Market Growth with Verisure Listing

Oskarshamn Nuclear Reactor Restart Delayed Again

Oskarshamn Nuclear Reactor Restart Delayed Again

Financial Supervisory Authority Warns of Growing Scam List

Financial Supervisory Authority Warns of Growing Scam List

Service Sector Shows Clear Recovery in September Index

Service Sector Shows Clear Recovery in September Index

Second-Highest Rent Increase in Over 20 Years Reported This Year

Second-Highest Rent Increase in Over 20 Years Reported This Year

Stockholm Stock Market Rises for Sixth Consecutive Day

Stockholm Stock Market Rises for Sixth Consecutive Day

International Flights Rise in Sweden This Year

International Flights Rise in Sweden This Year