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"https://finance.yahoo.com/news/electric-car-apathy-brought-down-142125621.html"
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[
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"Europe’s electric car revolt claims its biggest scalp yet"
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"Scott Millar"
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"Peter Carlsson"
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"Northvolt, a Swedish company founded in 2016, has raised over $15 billion from investors, bondholders, pension funds, and European governments. Despite this, the company has filed for bankruptcy protection due to a cash crisis caused by a decline in demand for electric vehicles. The company'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. Northvolt's biggest clients, including Volkswagen, have reduced their investments in the company, and the company has had to scale back its plans for new factories. The bankruptcy filing buys Northvolt time to salvage its business and secure a fresh capital injection."
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"content": "nostr:nprofile1qy3hwumn8ghj7un9d3shjtt5v4ehgmn9wshxkwrn9ekxz7t9wgejumn9waesqgr8g2hyzql5lt4cxfjdj40hgtu6vydvsqvsesqy8canygcce3lwvyyapkyy\nEUROPE’S ELECTRIC CAR REVOLT CLAIMS ITS BIGGEST SCALP YET\n\nhttps://media.zenfs.com/en/the_telegraph_258/fb91f43e1b4d241fd8ba5f694ceb1bd7\n--\n✍️ Northvolt, a European battery champion, has filed for bankruptcy protection due to a cash crisis caused by a decline in demand for electric vehicles.\n--\n👉 Northvolt has filed for bankruptcy protection due to a cash crisis caused by a decline in demand for electric vehicles.\n👉 The company has raised over $15 billion from investors, bondholders, pension funds, and European governments.\n👉 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.\n👉 The company's biggest clients, including Volkswagen, have reduced their investments in Northvolt.\n👉 Northvolt has had to scale back its plans for new factories.\n\n--\n#ScottMillar #PeterCarlsson #AndyPalmer #JamesFrith #SimonMoores #Skellefteå #NewYork #Germany #China #Europe #business\n--\nnostr:nevent1qvzqqqqqqypzqe6z4eqs8a86awpjvnv4ta6zlxnprtyqryxvqpp78vezxxxv0mnpqy3hwumn8ghj7un9d3shjtt5v4ehgmn9wshxkwrn9ekxz7t9wgejumn9waesqgx79gaj8dn62t3pkjpwuvq3vgm2gargdyxsas43ld9umutqkf9y9u6cr00x \n ",
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