On October 14th, referred to as an 'odesdag', Northvolt faced a critical juncture as failing to file for bankruptcy could lead to personal liability for directors. Fortunately, they announced the timely payment of their tax bill, with spokesperson Matti Kajala confirming, 'We have already paid our taxes, as we said last week we would.' This development alleviated immediate concerns, but the company's financial precariousness remains, highlighted by ongoing negotiations for a significant aid package.
In light of Northvolt's financial struggles, negotiations for an aid package of approximately 200 million euros are crucial. Kajala remarked on the positive movement, stating, 'It's not a secret that we're working on a financing round. In the past few weeks, we have seen significant progress and we hope we'll be able to share more information as soon as possible.' This suggests that despite difficulties, there's optimism regarding finding a resolution.
The precarious situation for Northvolt escalated with one of its subsidiaries applying for bankruptcy amidst rising debts of 120 million kronor owed to the Swedish Enforcement Agency. Additionally, ongoing negotiations with trade unions reveal intentions to lay off around 1,600 employees. This raises concerns over sustainability and the company's ability to rebound, with Scania indicating a willingness to assist but refraining from detailed comments to avoid speculation.
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