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Swedish battery firm Northvolt's bankruptcy threatens a $7B Quebec project, affecting 5,000 jobs.
Swedish battery maker Northvolt filed for bankruptcy, affecting its $7-billion project in Quebec.
Despite financial troubles, including rising costs and market shifts, Northvolt's North American unit remains solvent.
Quebec has lost $270 million in backing, while the project's future is uncertain.
A court trustee will oversee Northvolt's assets and operations.
The bankruptcy impacts Europe's ambitions to compete with Asian battery makers.
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La quiebra de la compañía de baterías sueca Northvolt amenaza un proyecto de Quebec de $7B, afectando a 5.000 empleos.