Electric is collapsing, the Northvolt battery manufacturer declares himself bankrupt in Sweden

< IMG LOADING = "Lazy" SRSC = "/Sites/Default/Files/Styles/Medium/2025-03/Jonathan%20nackstrand%20AFP%20%281%29.jpeg ? Itok = KOXVKV5G" Width = "1300" Height = "731" Alt = "Norvege" class = "Lazyload Img-Fluid Image-Style-Max-1300x1300" SRC = "/Sites/Default/Files/Styles/Max_1300x1300/Public/2025-03/Jonathan%20nackstrand%20Afp%20%281%29.jpeg ? iTok /> Nackstrand/AFP < P >Like a European automotive electricity sector in great suffering, the Swedish manufacturer of electric vehicle batteries Northvolt, who has been bending under a strong debt for months, finally declared himself bankrupt this Wednesday in Sweden, unable to bring together the necessary funding to survive. & Amp; nbsp;

> P > ” exhaustive all the options available to negotiate and implement a financial restructuring, including a restructuring procedure under chapter 11 in the United States (…) The company failed to meet the financial conditions necessary to continue its activities in its current form, “she said in a press release. & nbsp;

62 Deletion of 1,600 jobs in September, a quarter of its workforce, then reduced to less than 5,000 people. & nbsp;

< P >The Swedish manufacturer had requested on November 21 its placement under the protection of the American law on bankruptcies to facilitate its reorganization, which he planned to finish in the first quarter of 2025. & nbsp;

< p > “like many companies in the battery sector, Northvolt has been confronted in the past few months Cumulated which weakened its financial situation, in particular the increase in capital costs, geopolitical instability, disturbances in the supply chain and developments in market demand, “she added. & nbsp;

< p > In January the shareholders had given their green light shareholders. & nbsp;

< P > The two main shareholders of the Swedish group are the German automaker Volkswagen, itself in financial difficulty, and the American business bank Goldman Sachs. & nbsp;

62 ~ P > 62 > 62 ~ 62Throughout this procedure, the company has aroused significant interest from the share of potential partners and investors (…) However, because of the time and limited financial resources, the company was unable to conclude the agreements necessary to ensure its future “, underlined Northvolt in its press release. & Amp; nbsp;

62 Swedish manufacturer was perceived as the cornerstone of European attempts aimed at catching up with Asia and the United States in the production of battery cells, a crucial component of zero emission cars. & nbsp;

< P > Europe represents only 3% of the world production of battery cells, but aims very utopically 25% of the decade. & nbsp;

< P > & nbsp;