Northvolt is a company founded in 2015 and initially called SGF Energy. It was founded by Peter Carlsson, who has a background in Ericsson and Tesla, and the idea is to meet the demand for batteries, primarily in the automotive industry.
The goal is to control the entire chain from mining to finished product. Northvolt has received significant tax support to create job opportunities in green transformation and the construction of, among other things, the factory in Skellefteå.
The production at Northvolt's battery factory in Skellefteå is being scaled down to be stopped completely on June 30, announces the trustee. Vehicle manufacturer Scania says it was no longer possible to be the sole customer holding Northvolt under its arms.
BusinessThe AP funds have probably not broken the law, but The Moderate Party thinks they sense that they tried to get around the system when they invested billions in now bankrupt Northvolt. This setup appears quite creative, says Edward Riedl (M).
BusinessThe bankrupt battery manufacturer Northvolt's acting CEO Pia Aaltonen-Forsell is leaving her assignment, according to a press release.
BusinessThe entire Northvolt board has requested its own resignation in the midst of the bankruptcy, reports Affärsvärlden. This emerges from information submitted to the Companies Registration Office.
BusinessThe CEOs of the AP Funds are to be questioned in the Riksdag's Finance Committee. The reason: Noteworthy billion-krona investments made by the funds through specially formed companies in the now bankrupt battery manufacturer Northvolt.
BusinessEquipment that belonged to Northvolt Ett Expansion, a subsidiary of Northvolt, is now going up for auction. It's enormous volumes, says Per Henriksson, CEO of PS Auction.
BusinessThe National Debt Office warned as early as 2023 of major risks with the now bankrupt company Northvolt. This is shown by the credit rating assessment made by the authority.
BusinessTwo thirds of Northvolt Labs' workforce in Västerås will be laid off. This means that 250 people will remain, out of the initial 800 employees, during the ongoing bankruptcy process, reports SVT News Västmanland.
BusinessAround 1,700 people will continue to work in the bankrupt Northvolt companies in Sweden, according to the trustee Mikael Kubu. Skellefteå wants the government to support the municipality after the announcement.
BusinessBusiness Sweden is to find possible owners and investors for bankrupt Northvolt on behalf of the government.
BusinessThousands of employees at Northvolt risk losing their jobs. Many are foreigners who may be forced to leave Sweden. We can feel it, they are stressed, says Tobias Hansson, Sweden CEO at Hitachi Energy, which employs hundreds of former battery workers.
BusinessThere are several speculators who have shown interest in buying the battery factory Northvolt One in Skellefteå and other assets in Northvolt's bankruptcy estate, reports the newspaper Norran, citing Fredrik Sundin, lawyer at Ackordcentralen.
BusinessThe battery manufacturer Northvolt's chairman Tom Johnstone appealed to the government on Sunday for support to rescue the company from bankruptcy, reports Aftonbladet.
BusinessThe Bangladeshi MD Furkanul Islam, 31, has a master's degree in AI and robotics. In November, he was forced to leave Northvolt. To avoid being deported, the Skellefteå municipality has employed him. I was so happy, he says.
Business3,000 employees in Skellefteå will be leaving in connection with the bankruptcy of the battery manufacturer Northvolt. For many, the news was a shock – and an uncertain future awaits. My career, my life – everything has been turned upside down, says Johnson, 42.
BusinessThe message on Wednesday that the battery manufacturer Northvolt has gone bankrupt is a nightmare message. This says the chairman of the municipal council Lorents Burman (S) at a press conference. The hope now is that the business will be driven further and that a new owner will emerge.
BusinessThousands of employees are affected by Northvolt's bankruptcy, Sweden's largest in modern times. I am very sad. It hurts all over my body, says the former CEO Peter Carlsson.
BusinessThe trustee Mikael Kubu has taken over the responsibility for Northvolt, since the district court has declared the battery manufacturer bankrupt. We are investigating the conditions for being able to maintain production, he says. The major customer and lender Scania will be an important counterpart for Kubu in the process.
BusinessBillions of Swedish pension savers' money is lost in Northvolt's bankruptcy. The total debt of the battery manufacturer amounts to around 60 billion kronor in what is described as the largest Swedish bankruptcy in modern times.
BusinessThousands of employees are affected by Northvolt's bankruptcy, Sweden's largest in modern times. I am very sad. It hurts all over my body, says the former CEO Peter Carlsson.
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