Swedish Northvolt EV Battery Company Files for Bankruptcy

From Northvolt:

.

Stockholm, Sweden, 12 March 2025 – Following an exhaustive effort to explore all available means to secure a viable financial and operational future for the company, the Board of Directors of Northvolt AB today announced that it has filed for bankruptcy in Sweden.

Like many companies in the battery sector, Northvolt has experienced a series of compounding challenges in recent months that eroded its financial position, including rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand.

Further to this backdrop, the company has faced significant internal challenges in its ramp-up of production, both in ways that were expected by engagement in what is a highly complex industry, and others which were unforeseen.

.

Despite pursuing all available options to negotiate and implement a financial restructuring, including a Chapter 11 restructuring process in the United States, and despite liquidity support from our lenders and key counterparties, the company was unable to secure the necessary financial conditions to continue in its current form.

The Board therefore determined that this is the only available solution while the company pursues all realistic options to obtain financing to continue operating during the Swedish bankruptcy process.

.

It should be underscored that in engaging in this process, the company found significant traction with potential partners and interest from investors — something which illustrates the strong underlying value and future potential of Northvolt and is testament to its accomplishments.

Ultimately, however, with limited time and financial resources available, the company was unable to conclude the necessary agreements to secure its future.

.

Following the filing, a Swedish court-appointed trustee will now oversee the process, including the sale of the business and its assets and settlement of outstanding obligations.

The process will be conducted in accordance with Swedish insolvency law, with a focus on ensuring an orderly transition for employees, partners, and creditors.

Northvolt has nominated Mikael Kubu as Trustee.

.

The entities Northvolt AB, Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB filed with the Swedish court.

Northvolt Germany and Northvolt North America are not filing for bankruptcy in their respective jurisdictions. .

As wholly owned subsidiaries of Northvolt AB, any decisions regarding these entities will be made by the court-appointed trustee of Northvolt AB in consultation with the Group’s lenders at the appropriate time.

.

Northvolt recognizes the significant impact of this outcome on its employees, suppliers, customers, and other stakeholders.

The company is working closely with relevant authorities, trade unions, and partners to ensure that employees receive the support and information they need during this transition.

https://www.mynewsdesk.com/se/northvolt/pressreleases/northvolt-fil...

.

Obviously two major factors lie behind this bankruptcy:

1. The lack of demand for EVs in Europe and the US
2. The impossibility of competing profitably with batteries made in China

There is no prospect of either of these two challenges being resolved soon.

.

SOME HARD-HITTING COMMENTS  

https://www.windtaskforce.org/profiles/blogs/some-hard-hitting-comm...

By Willem Post

.

INTRODUCTION

The only reason the IPCC has made CO2 its miracle mascot is to tie it to fossil fuels which Europe does not have enough of.

The woke Euro elites went hog-wild for wind and solar, but at about 30% W/S on the grid, various costs increase exponentially.

The W/S variable, intermittent output, or too-little output, or too-much output, creates operational difficulties that become increasingly more challenging and increasingly more expensive/kWh to counteract, as proven by the UK for the past 5 years, and by Germany for the past 10 years.

Both countries have “achieved” near-zero, real- growth GDPs, the highest electricity prices/kWh in Europe, and stagnant real wages.

Their angry native populations are further burdened by the Euro elites bringing in tens of millions of uninvited, unvetted, poor, uneducated, inexperienced folks from all over; a chaotic, culture-clashing burden the native populations never voted for.

.

After spending all that W/S money, while uglifying the countryside, killing fisheries, tourism, and view sheds, etc., the Euro elites are richer and living in posher places, at the expense of all others.

.

But the climate is not any different than 30 years ago, even though, atmosphere CO2 increased from 280 ppm in 1850 to 420 ppm in 2025, 50% in 175 years.

During that time, world surface temps increased by about 1.5 C; the 1850 temp measurements were only in a few locations and not that accurate, the 1979-to-present temp measurements are more widespread and more accurate, due to NASA satellites.

.

Here in New England, we were freezing our butts off. Snow everywhere.

In Detroit, there was flooding up to car windows in the streets, and then it froze!

Such flooding is due to not spending on flood-prevention measures for decades.

.

The woke Euro elites tried to lure the US into going down the wind/solar/battery black hole, and make $billions in the process. That scam did not work out. The European wind industry is in shambles 
.

Trump spared the US from the W/S evils inflicted by the leftist, woke Democrat cabal, that used an autopen for Biden signatures and used on-the-beach/in-the-basement Biden as an increasingly dysfunctional Marionette.
Trump declared a National Energy Emergency, and put W/S/B systems at the bottom of the list, and voided their licenses, to put their environmental impact under proper scrutiny.
.
Europe was using the IPCC-invented, global-warming/climate-change/CO2-is-evil hoax, so the US would also deliver electricity to users at high c/kWh, to preserve Europe’s extremely advantageous trade balance with the US.
https://www.windtaskforce.org/profiles/blogs/international-trade-is...

.

When will woke Euro elites finally admit, CO2 is a good gas, absolutely essential to grow more flora and fauna, and increase crop yields to feed hungry people?

https://www.windtaskforce.org/profiles/blogs/co2-has-a-very-minor-r...

https://www.windtaskforce.org/profiles/blogs/we-are-in-a-co2-famine