Northvolt, a major EV battery maker, faces severe production issues, risking bankruptcy.

Northvolt, a key European player in the electric vehicle battery market, is facing significant production issues at its Swedish plant, missing weekly targets since early September. The company has struggled with delays and quality control, leading to a loss of a 2 billion euro contract with BMW in June. Despite these challenges, Northvolt maintains that it is producing high-performance cells and working to improve output. There are also discussions about potentially filing for Chapter 11 bankruptcy protection in the U.S.

November 18, 2024
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