Northvolt applied for Chapter 11 bankruptcy protection to restructure its $5.8 billion debt, with the support of shareholders affirming the company's continuation.
Despite the challenges, Northvolt continues to progress in ramping production and transforming its operations, with shareholders backing the restructuring plan.
The company has made significant cuts, including 1,600 job losses and halting expansion plans, in response to financial strain and a drop in demand.
As a key player in Europe's ambitions to enhance battery cell production, Northvolt aims for a 25% market share by 2030, despite current setbacks.
Collection
[
|
...
]