Scania

Northvolt Owner: "Moving Quickly in the Right Direction"

Northvolt has got significantly better momentum in production at the Skellefteå factory. This is stated by one of the owners, the CEO of the First AP Fund, Kristin Magnusson Bernard.

Northvolt sells factory to Scania

Northvolt sells parts of its operations to Scania.

Temu and Shein at the Bottom – Worst Reputation in the Nordics

E-commerce platforms Temu and Shein are the companies that have the lowest confidence among consumers in the Nordic region, shows a new study.

Volvo soared and SEB plummeted

The truck giant Volvo rushed to the top, the major bank SEB plummeted to the bottom. These were the reactions on the Stockholm Stock Exchange following Wednesday morning's closing. The exchange's broad OMXS index closed at plus 0.8 percent.

Volkswagen wants to sell large stake in Traton

Increased sales for Scania

Sweden may need an Elon Musk

The financier Christer Gardell does not want new tariffs, abhors bitcoin and sees Tesla as an overvalued bubble. But he is not particularly worried about Donald Trump as president, and thinks that even Sweden needs an "Elon Musk" to cut costs in the government apparatus.

Green light from the court for crisis-stricken Northvolt

Yet another court hearing about the crisis-stricken battery manufacturer Northvolt was held in Texas on Friday evening, Swedish time. The company got the green light to continue the Chapter 11 process.

VW CEO: The situation is serious

The union demands in the negotiations about historic cutbacks in Germany are not enough, according to Oliver Blume, CEO of crisis-stricken German Volkswagen (VW).

He becomes new finance chief at Scania

The Södertälje-based truck manufacturer Scania has recruited Do Young Kim as new CFO. He is expected to take office on 1 February 2025, writes Scania in a press release.

Analysts: This is how Swedish companies in Mexico are affected

What becomes a reality of Donald Trump's tariff threats is still highly unclear. However, there are a number of Swedish companies in the line of fire due to their production in Mexico.

Major Shareholders Expect a Northvolt Shock

Northvolt's major shareholders are expecting a significant blow in the reconstruction that the crisis-stricken battery manufacturer wants to implement. The largest owner, German Volkswagen (VW), has written down most of the value of its holding, reports Reuters citing sources.

Billion-dollar amounts at stake in Northvolt's crisis

Subcontractors to the battery manufacturer Northvolt, which last week applied for bankruptcy protection in the USA, have claims totaling 2.5 billion kronor against the company. Eleven Swedish subcontractors are among those affected.

Northvolt's CEO is leaving: Should have slammed on the brakes

Northvolt's CEO Peter Carlsson is leaving his post – the day after the crisis-stricken battery manufacturer applied for reconstruction in the USA. According to Carlsson, the company is not a sinking ship, but he is simultaneously self-critical: We should have applied the brakes a bit earlier, he says.

Full speed in the factory – but order intake is plummeting

Record production and deliveries and a significant profit increase characterize the third quarter for truck manufacturer Scania. However, order intake points sharply downward. We are looking at the best way to help them, says CEO Christian Levin about battery supplier Nortvholts' crisis.

Saab surged on a declining stock market

The Stockholm stock exchange fell across the board in the report-heavy trading on Tuesday morning. The prices recovered somewhat, but the broad OMXS index closed at minus 0.4 percent. Among the exceptions was the defense conglomerate Saab.

Scania owner: Unexpectedly strong quarter

The truck manufacturer Scania's owner Traton exceeds market expectations for operating result and cash flow, reports Dagens industri.

The Union at Northvolt: "Very strained situation"

The situation is strained and acute. This is the picture presented by the management to the trade union at crisis-ridden Northvolt. More painful decisions will come. The way Northvolt is "consuming capital" at present is not sustainable, said CEO Peter Carlsson at a staff meeting.

Still Red on the Stock Exchange

September continues in the red on the Stockholm Stock Exchange. At the close, the broad OMXS index had fallen 1.3 percent.

Broad decline on the stock exchange – red among major companies

The stock market in Stockholm fell on Thursday, with the OMXS index at minus 2.1 percent at closing. The decline was broad.

Scania achieves record profit despite interest-rate pressured customers

Scania achieves its best operating result ever for a single quarter, but at the same time, one can see how customers on the European market are waiting to replace their truck fleets. Many are choosing to wait because they expect interest rates to fall, says Scania's CEO and President Christian Levin.

Vehicle Company Goes Bankrupt – 1,400 Employees Affected

IAC Group Sweden, which supplies components to Volvo companies and Scania, has been declared bankrupt. The company has approximately 1,400 employees in Sweden. The goal is to find a new owner during the summer, says the trustee Mikael Kubu.