A pioneer in the electric battery sector, the group has been experiencing significant financial difficulties for several months.
Swedish electric vehicle battery maker Northvolt, which is facing serious financial difficulties, announced on Thursday that it was filing for US bankruptcy protection (Chapter 11) to facilitate its reorganization.
This decision “will allow the company to restructure its debt, adapt its activity to the needs of its clients and guarantee a sustainable basis for the continuation of its activities,” the company said in a statement, specifying that its activity will continue normally.
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Source: BFM TV
