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2024-11-22 19:43:04
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finance.yahoo.com on Nostr: finance.yahoo.com ✍️ Northvolt, a European battery champion, has filed for ...



✍️ Northvolt, a European battery champion, has filed for bankruptcy protection due to a cash crisis caused by a decline in demand for electric vehicles.
👉 Northvolt has filed for bankruptcy protection due to a cash crisis caused by a decline in demand for electric vehicles.
👉 The company has raised over $15 billion from investors, bondholders, pension funds, and European governments.
👉 Northvolt's expansion plans were premised on consistent growth in the electric vehicle industry, but the market has slowed down due to inflation and hesitant consumer demand.
👉 The company's biggest clients, including Volkswagen, have reduced their investments in Northvolt.
👉 Northvolt has had to scale back its plans for new factories.

#ScottMillar #PeterCarlsson #AndyPalmer #JamesFrith #SimonMoores #Skellefteå #NewYork #Germany #China #Europe #business

https://media.zenfs.com/en/the_telegraph_258/fb91f43e1b4d241fd8ba5f694ceb1bd7

https://finance.yahoo.com/news/electric-car-apathy-brought-down-142125621.html

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