actory plan with respect to Quebec’s interests, we are asserting our rights to recover the maximum amount of our investment,” Fréchette said. The province’s investment in the Northvolt project included a CAD 270-million investment in the Swedish parent company that was lost when it filed for bankruptcy in March, though the government is hoping to recover a CAD 240 million guaranteed loan issued to purchase the Quebec land for the plant onc...

News  Updated at: 2025/09/06

t. The current shutdown is scheduled to end in October. Unifor representatives say Qualtech’s shutdown will not impact BrightDrop production, but did not specify who will supply the new seats. Also related, Accuride, the Michigan-based supplier of Chevrolet BrightDrop wheels, filed for Chapter 11 bankruptcy in 2024. Accuride sought to exit its BrightDrop contract with GM because it was losing money, and General Motors was allegedly unwilling to...

News  Updated at: 2025/09/03

Mold maker R Kogyo starts bankruptcy process It was reported that Hiroshima District Court decided to start the bankruptcy proceeding of R Kogyo (Aki Ward, Hiroshima City), a mold manufacturer, on August 7. The company’s total liabilities are about JPY 2.258 billion, according to Tokyo Shoko Research, Ltd. Since its incorporation in 1986, the company has established a foundation for sales mainly to automotive-related companies, and expanded its...

News  Updated at: 2025/09/01

d workforce significantly, while also supporting Finland's climate goals aimed at reducing emissions and achieving carbon neutrality by 2035.  The investment comes on the back of Skeleton's rapid growth, which began in 2023 when the company acquired the assets of European Battery Technologies Oy's bankruptcy estate and signed a separate lease agreement for a 9,400 square meters factory in Keski-Savo Industrial Park in Varkaus. Based on Skeleton ...

News  Updated at: 2025/08/29

Hyroad Energy acquires 113 hydrogen fuel cell trucks, assets from Nikola bankruptcy auction Hyroad Energy has acquired 113 hydrogen fuel cell trucks, along with spare parts, software platforms, and intellectual property assets from Nikola Corporation’s bankruptcy auction. The purchase expands Hyroad’s fleet and supports its pay-per-mile truck-as-a-service model for zero-emission Class 8 vehicles. The company plans to deploy the trucks primari...

News  Updated at: 2025/08/12

Marelli receives approval to access full amount in DIP financing On August 1, Marelli Holding Co., Ltd. (Marelli), a major automotive parts supplier that filed for Chapter 11 of the U.S. Bankruptcy Code, announced that it has received approval from U.S. Bankruptcy Court for the full utilization of debtor-in-possession (DIP) financing. This will enable Marelli to access the entire USD 1.1 billion (JPY 165 billion), and bring the entire Chapter 11 ...

News  Updated at: 2025/08/04

Marelli selects foreign financial consortium as its sponsor for business restructuring On July 29, Marelli Holdings Co., Ltd. (Marelli), a major automotive supplier, announced that it has filed for Chapter 11 of the U.S. Bankruptcy Code (equivalent to the Japanese Civil Rehabilitation Act), has been going through a business restructuring, and that it has selected a consortium of foreign banks and funding companies as its sponsor. The consortium c...

News  Updated at: 2025/07/30

Renesas posts net loss of JPY 175.3 billion in H1, 2025 Renesas Electronics Corporation (Renesas) has announced its consolidated financial results for the six months ended June 30, 2025 (International Financial Reporting Standards; IFRS). The company posted a net loss of JPY 175.3 billion mainly due to the bankruptcy of Wolfspeed, Inc., in which it had a stake, and the impairment charges associated with the cancellation of plans to commercialize ...

News  Updated at: 2025/07/28

JS Foundry goes bankrupt with total debts of JPY 16.1 billion On July 14, JS Foundry KK. (JS Foundry, Minato Ward, Tokyo), a power semiconductor foundry, filed a petition for bankruptcy with the Tokyo District Court, and the court decided to start bankruptcy procedures for the company. The total debt is around JPY 16.1 billion. JS Foundry decided to discontinue its business because its negotiations for sponsorship with a foreign company were brok...

News  Updated at: 2025/07/16

GAC FCA officially declares bankruptcy On July 8, the administrator of GAC Fiat Chrysler Automobiles Co., Ltd. (GAC FCA) announced that it filed for a ruling to declare the company bankrupt with the Changsha Intermediate People’s Court of Hunan Province based on some creditors’ opinions and after discussion by the creditors’ committee, as the company has no possibility of reorganization. The filing was approved on June 24. Due to no bids, G...

News  Updated at: 2025/07/10

Hozon Auto starts seeking potential investors On June 12, the Jiaxing Intermediate People’s Court of Zhejiang Province ruled to accept the bankruptcy reorganization case of Hozon New Energy Automobile Co., Ltd. (Hozon Auto), the parent company of Neta Auto, and appointed three law firms as joint administrators to oversee the process. To expedite Hozon Auto’s bankruptcy reorganization process for effective revitalization of assets and maximiza...

News  Updated at: 2025/07/04

NETA Thailand under Excise Dept.’s close watch amid parent firm uncertainty Reported on June 25, 2025, Thailand’s Excise Department revealed that the situation involving Neta Thailand is under close watch, with continuous discussions being held involving the department and relevant parties. NETA's parent firm in China, Zhejiang Hozon New Energy Automobile Co., Ltd., has initiated bankruptcy proceedings, prompting concerns over potential impac...

News  Updated at: 2025/06/26

Neta’s future in Brazil uncertain due to bankruptcy in China Chinese EV brand Neta, which entered Brazil in November 2024, is facing major financial trouble after its parent company Hozon Auto officially entered bankruptcy proceedings in China. Despite promising a long-term presence in Brazil, Neta has sold only 51 vehicles in the country over seven months. Local operations showed instability earlier this year when its website and social media ...

News  Updated at: 2025/06/25

is likely to post a loss of about JPY 250 billion relating to the restructuring of Wolfspeed, Inc. (Wolfspeed), a U.S.-based silicon carbide (SiC) semiconductor manufacturer, to process a deposit it paid to the company. Wolfspeed is expected to file for proceedings under the Chapter 11 of the U.S. Bankruptcy Code in the near future. Renesas Electronics signed a long-term SiC wafer supply agreement with Wolfspeed in 2023 and accordingly provided ...

News  Updated at: 2025/06/24

Marelli does business with 1,731 suppliers in Japan A survey conducted by Teikoku Databank, Ltd. has revealed that there are 1,731 suppliers dealing with Marelli Holding Co., Ltd. (Marelli) or Marelli Group companies, which have gone bankrupt, in Japan. The total amount of their dealings is estimated to be JPY 260.04 billion, and the number of relevant employees is about 287,000. The impact on such suppliers is a matter of concern if the reconstr...

News  Updated at: 2025/06/24

n held on June 20, a consortium of companies including Strategic Value Partners, LLC (SVP), which is a U.S. investment fund that is likely to lead the business restructuring plan of Marelli Holdings Co., Ltd. (Marelli), a major automotive parts supplier that has filed for the Chapter 11 of the U.S. bankruptcy law (equivalent to Japanese Civil Rehabilitation Act), stated that it will strongly support Marelli’s financial restructuring plan. The c...

News  Updated at: 2025/06/23

LeddarTech announces intention to file for bankruptcy in Canada On June 16, LeddarTech Holdings Inc., an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), announced that it intends on making an assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada). After undertaking a strategic review which was unsuccessful in identifying a suitable acqui...

News  Updated at: 2025/06/18

Marelli begins U.S. Chapter 11 bankruptcy process; Italian Unions demand safeguards on local industrial plan Marelli Corporation (Marelli) announced the start of the Chapter 11 proceedings in the U.S. Bankruptcy Court during a meeting with trade unions on June 12, 2025. This is part of a financial restructuring agreement backed by approximately 80% of Marelli’s creditors. The company stressed that this process is purely financial and will not a...

News  Updated at: 2025/06/16

Marelli files Chapter 11 bankruptcy in U.S. to restructure financial position Marelli Corporation (Marelli) has voluntarily filed for chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to comprehensively restructure its long-term debt. Approximately 80% of the company’s lenders have signed a Restructuring Support Agreement (RSA) to deleverage its balance sheet and strengthen its liquidity. The company has also s...

News  Updated at: 2025/06/12

Marelli reportedly plans Chapter 11 bankruptcy filing in U.S. Marelli Holdings Co. plans to seek Chapter 11 bankruptcy protection in the U.S. to slash its debt burden and restructure under new ownership, according to people familiar with the matter. Should the proposal go through, U.S.-based global investment firm Strategic Value Partners LLC, led by Victor Khosla, will effectively become the new owner of Marelli after it led a deal that satisfie...

News  Updated at: 2025/06/11