Volkswagen’s Scania Truck Unit to Provide Northvolt DIP Funding

Scania to provide Northvolt with debtor-in-possession funding as battery maker continues operations under Chapter 11 bankruptcy protection, spokesperson for VW’s Swedish truck brand says by phone.

• Scania is Northvolt’s biggest customer
• Note, Northvolt filed for US Chapter 11 bankruptcy, the Swedish electric-vehicle supplier said Thursday in a statement
  • One of Northvolt’s existing customers “has committed to provide $100 million in new financing to support Northvolt’s business operations in the form of debtor-in-possession (DIP) financing”: Northvolt
• Earlier: Northvolt Files for Bankruptcy in Blow to Europe’s Battery Hopes

To contact the reporter on this story:
Rafaela Lindeberg in Stockholm at rlindeberg@bloomberg.net

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