(Reuters) — Northvolt, the Swedish maker of battery cells for electric vehicles, said on Thursday it has filed for Chapter 11 bankruptcy protection in the U.S., dealing a blow to Europe’s hopes that its most developed battery player would reduce Western carmakers’ reliance on Chinese rivals.
Northvolt said it has only enough cash to support its operations for about a week, and said it has secured $100 million in new financing for the bankruptcy process. It said operations will continue as normal during the bankruptcy.
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Publish date : 2024-11-21 12:50:00
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