Nortvolt Files for Bankruptcy ...Middle East

Northvolt, Europe’s big battery hopeful, has filed for bankruptcy in the United States after failing to turn its fortunes around as the electric vehicle market continues to disappoint fans. Northvolt has been struggling for a while now, with the Swedish government ruling out a bailout if it came to that. Sales have been problematic, costs have been high and BMW served a blow to the company when it pulled out of a $2-billion long-term battery cell contract saying Northvolt had failed to deliver the products on time. “Northvolt's liquidity…

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