UPDATED 31 MARCH 2025 | Swedish battery maker Northvolt, once seen as Scandinavia’s biggest promise for a battery-powered car future, fired for bankruptcy on Wednesday, 12 March. With that, the end has been reached of a saga of many months.
The Nordic Reporter has written extensively about the troubles Northvolt was in. What happened over the last few days is that the company with its headquarters in Skellefteå could not attract enough capital to settle the debts it was to pay.
Production going
According to Swedish media, Northvolt is run by bankruptcy trustee Mikael Kubu. He is quoted by Swedish broadcasting company SVT and says he attempts to keep the production going, depending on the wishes of the customers, while he will be looking for potential buyers.
One of those customers is Swedish truck giant Scania. The company buys from the Swedish plant, while it is in the process of taking over Northvolt’s production plant in Gdańsk, Poland.
UPDATE 31 MARCH: likely thousands lose their jobs
Bankruptcy trustee Mikael Kubu announced on 31 March 2025 that of the 4,500 employees of Northvolt, only 1,700 are asked to continue to work with the tasks at hand. The other 2,800 staff will be cleared of all work assignments. How many will be fired in the end is still under discussion. | © 2025 Marcel Burger, nordicreporter.com. Featured image: Northvolt’s plant in Skellefteå (Press photo: Northvolt)