Battery maker Northvolt AB is preparing to file for bankruptcy of its entire Swedish operations as soon as Wednesday, Dagens Nyheter reported, citing sources it didn’t identify.
The electric-vehicle supplier, which is already undergoing a Chapter 11 restructuring in the US, is set to take the decision if it fails to obtain new capital on Tuesday, the Swedish newspaper reported, citing two sources it said are independent of each other. The government in Stockholm has been informed, it said.
A Northvolt spokesman declined to comment on the report when reached by phone.
The company that promised to be a ...
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