Sweden Seeks New Investors for Bankrupt Northvolt Battery Firm

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Sweden Seeks New Investors for Bankrupt Northvolt Battery Firm
Photo: Henrik Montgomery/TT

Business Sweden is to find possible owners and investors for bankrupt Northvolt on behalf of the government.

In the wake of Northvolt's bankruptcy, Sweden's export and investment council (Business Sweden) has been assigned a new government mission.

Business Sweden will offer dialogue and promote cooperation between potential owners, investors, and stakeholders in the business community.

The hope is to be able to continue the development and production of batteries in Sweden.

"It is of strategic interest for Sweden to find as good a solution as possible", says Energy and Business Minister Ebba Busch (KD) in a comment.

At the same time, it is emphasized that the work should be in line with the trustee's wishes.

The government has also decided to allocate one million kronor to the County Administrative Board of Västerbotten to strengthen its work due to Northvolt's bankruptcy.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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