Swedish battery maker Northvolt seeks $300m-plus financing by Oct end to sustain operations amid production, demand, and competition challenges.
Swedish battery manufacturer Northvolt is working on securing a financing package exceeding $300 million, with potential announcements by the end of October. This funding aims to sustain the company through next year amid challenges like production issues, reduced demand, and competition from Chinese firms. Northvolt's position has shifted from a strong contender in the EV battery market to needing job cuts and operational reductions.
October 21, 2024
8 Articles