Quebec Recovers C$200 Million of Investment in Defunct Northvolt

Quebec’s economy minister says that the Canadian province has managed to recoup part of its investment in bankrupt electric vehicle battery maker Northvolt AB.

“We have guarantees to recover the sums invested in the purchase of the Northvolt site,” Minister Christine Frechette said Friday night on X, referring to the land where a Northvolt battery plant was to be built near Montreal. “We have exercised these guarantees and have recovered, in the first instance, nearly 200 million on our loan.”

Quebec has lost C$270 million on its equity investment in Sweden-based Northvolt, but still had a senior secured loan ...