Northvolt may get short term funds, but this does not solve the company’s issues
Indeed, talks are ongoing with possible new investors. The target is to get about 300 million euros funding by the end of the month to have enough liquidity and meet the next goals outlined by the company's management in the last few weeks.
Swedish EV battery manufacturer Northvolt is likely to receive short term funds in the next few weeks. According to some media reports quoting insiders from the company, the above mentioned capital might be enough to pay salaries, although more significant money injection is expected to bring Northvolt out of trouble.
Northvolt still in search of possible new investors
Indeed, talks are ongoing with possible new investors. The target is to get about 300 million euros funding by the end of the month to have enough liquidity and meet the next goals outlined by the company’s management in the last few weeks.
Not long ago, Northvolt was forced to fire about 1,600 people in Sweden and, at the same time, declare bankruptcy for the company Northvolt Ett Expansion, belonging to the group. Last summer, Northvolt made the liquidity issues official by means of company statements. The whole European EV industry looks at the Swedish company as the most concrete hope for an all-European value chain in the field of batteries for electric vehicles.
