Swedish battery firm Northvolt files for U.S. bankruptcy, yet vows to proceed with its $7B Quebec project.

Swedish battery maker Northvolt has filed for bankruptcy protection in the U.S., but assures that its $7 billion battery plant project in Quebec will continue unaffected. The Canadian subsidiary is separately financed and will proceed as planned, despite Northvolt's financial struggles and layoffs in Sweden. Quebec and Ottawa have pledged $2.4 billion in support for the project.

November 21, 2024
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