On May 5, NOVO Energy announced that it is implementing cost reduction measures and restructuring its organization to scale down operations. These steps follow an extensive evaluation of its business, following the bankruptcy of its technology partner, Northvolt.
The actions will lead to a 50% reduction in NOVO Energ

On April 14, TBAuctions, Europe’s leading online auction platform, announced that its brands are managing the sale of assets from the bankruptcy estate of Northvolt Ett Expansion. The company aims to find new owners for the unused equipment, which has an estimated purchase value of around EUR 300 million, making this

On March 31, Ackordscentralen, Northvolt’s bankruptcy trustee, announced that Northvolt’s bankruptcy estates had reached a principal agreement with relevant stakeholders regarding financial guarantees to continue operations. The agreement is expected to be formalized in the coming days.
The ongoing operations under t

On March 12, Northvolt announced that it has filed for bankruptcy in Sweden after an extensive effort to find a sustainable financial and operational path.
Despite pursuing all efforts to negotiate and implement a financial restructuring, including Chapter 11 in the U.S. and support from lenders, the company couldn’t

On February 4, Northvolt announced that it will continue to source cathode active material (CAM) externally for its cell production.
Northvolt, till date, has sourced CAM externally while developing in-house production at its Northvolt Ett Upstream 1 facility. The facility was fully built, installed, and producing b

On January 8, multiple sources reported that Northvolt's shareholders have voted to continue operations during the restructuring process. The restructuring process is expected to be completed in the first quarter of 2025.
Based on multiple sources 

As Europe moves to a BEV era over the next decade, more advanced batteries are needed to drive vehicles further, while at the same time making them more affordable. According to the European Alternative Fuels Observatory, the average BEV retail price in 2023 in Europe reached a record high of €46,000. Previously, it

On November 26, Galp, a multinational energy corporation, announced that it has decided not to proceed with the construction of the Aurora project, originally a 50/50 partnership between Galp and Northvolt.
Since 2021, Aurora has been working to set up a lithium conversion plant in Setúbal, Portugal, to supply the b

On November 21, Northvolt AB and its subsidiaries filed for Chapter 11 reorganization in the United States of America. The process will help Northvolt restructure its debt, align its operations with customer needs, and build a sustainable foundation for future growth as part of its strategic business review. The rest

On October 30th, Hydrovolt, a 50:50 joint venture (JV) of Norsk Hydro ASA (Hydro) and Northvolt, opened a new production line dedicated to the discharging and dismantling of batteries. The semi-automated line is the first of its kind in the world for battery recycling. Hydrovolt's plant in Fredrikstad consists of two

On October 30, Volvo Cars announced that it will exercise its redemption rights to acquire Northvolt AB's shares in their NOVO Energy, joint venture between Northvolt and Volvo Car. The action follows Northvolt AB’s breach of the shareholders’ agreement by not meeting its financing obligations.
Volvo Cars is evaluati

On October 8, Northvolt announced that its subsidiary Northvolt Ett Expansion AB had filed an application for bankruptcy at the District Court of Stockholm. The application was filed due to the financial situation of Ett Expansion AB. The company has no direct employees and is managing the construction project.
Since

On September 23, Northvolt announced a revised operational strategy in Sweden aimed at accelerating large-scale cell manufacturing at Northvolt Ett. The measure is expected to result in the redundancy of around 1,600 jobs in Skellefteå (1,000 jobs), Västerås (400), and Stockholm (200).
The expansion of the Northvolt

On September 16, multiple sources reported that the Swedish Prime Minister Ulf Kristersson stated that the Swedish government will not take a stake in battery maker Northvolt and has no plans to rescue the company. The prime minister added that the future of the company must be decided by its private owners.
On Septe

On September 9, Northvolt announced initial steps in its strategic review which involve re-scaling of its operations and resizing its workforce. The strategic review focus on ramping up the Northvolt Ett gigafactory in Sweden and utilizing the Northvolt Labs R&D facility to sustain its leadership in Western cell manu

On August 20, Northvolt announced the decision to shift the development of its next-generation lithium-metal battery technology from California (Cuberg) to its R&D campus, Northvolt Labs, in Västerås, Sweden. Northvolt will now consolidate the R&D and industrialization of Northvolt’s cell product portfolio featuring

On June 27, Fluor Corporation announced that its Technologies & Life Sciences business has secured an engineering, procurement, and construction management (EPCM) services contract for Phase One of Northvolt's new lithium-ion battery factory in Heide, Germany. Fluor will recognize its undisclosed portion of the total

On June 21, multiple sources reported that BMW had withdrawn an order for battery cells worth EUR 2 billion from Northvolt. The agreement was announced in 2020. 
The specific reason was not given but a BMW spokesperson stated that BMW is "still very interested in establishing a high-performance manufacturer of circul

On March 25, Northvolt started construction of the battery gigafactory Northvolt Drei. The event was attended by the German Chancellor and Vice-Chancellor. The gigafactory will have 110 hectares of land at the industrial site outside the city of Heide, district of Dithmarschen, in Northern Germany.
It will employ rou

On March 6, Business Region Gothenburg announced that Novo Energy, a joint venture between Northvolt and Volvo Cars, laid the cornerstone of the region’s first gigafactory for batteries in Torslanda, next to Volvo Cars' final assembly factory.
After the autumn and winter earthworks, the factory buildings have already