is for supplying high-nickel cathode materials worth a total of KRW 9.24 trillion (JPY 1.02 trillion) from January 2025 to December 2030. The contract partner is believed to be Northvolt AB of Sweden.  Having been affected by the slowdown in demand for electric vehicles (EVs), Northvolt filed for bankruptcy protection in the United States in November 2024 and in Sweden in March 2025. L&F explained that it understands the contract partner is cur...

News  Updated at: 2026/03/30

ounds and two rival plans, the best‑supported proposal secured only 47.66% of creditor votes, below the required 66%, leaving the Committee of Creditors deadlocked between resolution and liquidation.​ The tribunal held that liquidation can be ordered under Section 33(1)(a) of the Insolvency and Bankruptcy Code once the CIRP period ends without an approved plan, even without a separate 66% creditor vote for liquidation, and directed that liqui...

News  Updated at: 2026/03/13

y 3, MicroVision, Inc. completed the acquisition of certain assets from Luminar Technologies, Inc., including IP and inventory related to the Iris and Halo lidar sensors, key engineering and operations talent, and certain commercial contracts and orders, as a result of Luminar filing for Chapter 11 bankruptcy in December 2025.   MicroVision was selected as the winning bidder at an auction with a cash purchase price of USD 33 million. Microvision...

News  Updated at: 2026/02/24

esas will transfer the business to SiTime Corporation (SiTime), which handles electromechanical devices including timing products, by the end of 2026. Renesas will consider procuring parts from SiTime. In the fiscal year ended December 31, 2025, Renesas posted a loss of JPY 236.6 billion due to the bankruptcy of Wolfspeed, Inc., a U.S. semiconductor manufacturer and its business partner, which affected its financial results. The electric vehicle ...

News  Updated at: 2026/02/06

Luminar Technologies files for Chapter 11 bankruptcy to facilitate sale On December 15, Luminar Technologies, Inc. announced that it has initiated voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate value-maximizing sale processes for its LiDAR business and for the equity of its Luminar Semiconductors. Inc. (LSI) subsidiary, which is not a debtor in Luminar’s chapter 11 case and its operatio...

News  Updated at: 2025/12/16

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

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