Swedish battery start-up Northvolt announced on Thursday that it will seek U.S. Chapter 11 bankruptcy protection as the cash-strapped company attempts to reorganize its finances. This move comes after a rapid decline from being one of Europe’s most promising electric vehicle battery champions to a company struggling to stay afloat amid production challenges and a...
READ MORENorthvolt, a Swedish company specializing in energy storage solutions for electric vehicles, has announced the sale of its California plant to Lyten, a U.S. start-up focused on lithium-sulfur battery technologies. The decision is part of Northvolt’s strategy to concentrate its resources on the European market and bolster its industrial ambitions in the region. As part...
READ MORENorthvolt AB, the financially struggling European battery manufacturer, has reached an agreement to sell its US factory to Lyten, a California-based startup focused on lithium-sulfur batteries. This move is part of Lyten’s broader effort to reduce America’s reliance on China for battery production. Under the terms of the deal, Lyten will invest $50 million over...
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