northvolt

Reuters writes that Scania is particularly active in supporting the company in its day-to-day life by putting people in the factory, trying "to boost quality and output at the struggling electric vehicle battery maker as it scrambles to secure funds". We're talking about the Northvolt Ett in Skellef...

The manager joins Northvolt Ett "at a critical time as we continue to ramp up operations at Europe's largest battery gigafactory. Together, we are driving forward our mission to enable the future of sustainable energy with world-class battery solutions", stated the Swedish company.

Now, it is mandatory for the Swedish company, the best shot in EV battery manufacturing in Europe so far, to restructure its business. According to Reuters, Northvolt counted about 6,600 employees when the so-called Chapter 11 was filed, last November.

Northvolt "will continue to operate as usual during the reorganization", making deliveries and fulfiling obligations to customers. The Swedish company also states that "the Chapter 11 restructuring process in the U.S. is distinct from a bankruptcy or administration proceeding in Sweden or many other...

During a call with reporters, Scania and TRATON CEO, Christian Levin, pointed out that not all Scania vehicles are coming with Nortvolt cells, but the new regional haulage truck will have them. Levin also said he won't be leaving comments about Northvolt's financial situation.

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.