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Northvolt to stop production at end of June without buyer

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Northvolt's Chief Operating Officer Matthias Arleth is expected to deliver the news of the final production line closure to the company's 900 staff later today.
Northvolt, a Swedish battery manufacturer, has announced that it will halt production at the end of June unless it finds a buyer, as the company is facing potential bankruptcy. The firm, which has been a key player in Europe's push towards electric vehicle battery production, has struggled with financial difficulties exacerbated by rising raw material costs and delays in scaling up its operations. Northvolt's situation underscores the challenges faced by the European battery industry in competing with established Asian manufacturers and securing sufficient funding to support growth. The company is currently in talks with potential investors and buyers to avoid shutting down its operations, which could have significant implications for Europe's green energy ambitions.

Read the Full Fortune Article at:
[ https://fortune.com/europe/2025/05/22/northvolt-stop-production-end-of-june-without-buyer-bankruptcy/ ]