Reported about 17 hours ago
Northvolt, the Swedish manufacturer of battery cells for electric vehicles, is reportedly on the verge of filing for bankruptcy in Sweden due to dwindling cash reserves and ongoing operational issues at its main plant. The company's board may submit a bankruptcy application by Wednesday if new funding isn't secured. Northvolt has garnered over $10 billion in financing since its inception in 2016 but is struggling under more than $8 billion in debt.
Source: YAHOO