Northvolt is currently undergoing a company reconstruction, a form of bankruptcy protection, in the USA. This is stated in documents submitted to a court where the company reports a budget.
According to Ekot, it appears that Northvolt from mid-November and for three months ahead expects expenses of 3.5 billion kronor, of which one billion in personnel costs.
At the same time, revenues from customers are estimated to remain at half a billion kronor during the same period, indicating a negative cash flow of approximately three billion.
In the documents, an advisor to Northvolt writes that the new financing secured by the company so far during the reconstruction will last for ten to eleven weeks and that they will work to raise additional funds during this time.
This means, according to Ekot, that a new capital injection will be needed at the turn of the month between January and February.
