Northvolt

The company uses information about what happens inside batteries to optimize battery design and performance through an approach called Connected Battery.

The company works with three kinds of chemistry to deliver battery solutions for electrification.

Modular components and complete scalable battery systems based around Northvolt cells to support virtually any battery powered application.

Northvolt – Enabling the Future of Energy

Latest News at Northvolt

Pioneering a sustainable battery industry to enable the future of energy.

Northvolt files for Chapter 11 bankruptcy in the U.S., and co-founder and CEO Peter Carlsson resigns while remaining an advisor and board member. The Swedish battery maker has laid off 1,600 employees and sold assets from its Cuberg acquisition; despite raising $14.26 billion, it reportedly burns $100 million monthly and lost a $2 billion BMW contract after failing to deliver on time.

Nov 2024 · TechCrunchNews article

Northvolt files for Chapter 11 bankruptcy in the United States, seeking to reorganize its finances and continue operations while honoring customer and supplier commitments. Co-founder and CEO Peter Carlsson resigns but remains an advisor and board member, following 1,600 layoffs and the sale of assets from its Cuberg acquisition. Despite raising $14.26 billion, the company reportedly burns $100 million monthly; BMW withdraws from a $2 billion contract after Northvolt fails to deliver on time.

Nov 2024 · TechCrunchNews article

Northvolt lays off 1,600 workers and halts an expansion of its Ett factory as it cuts costs amid weaker-than-expected electric vehicle demand. The company’s plans to produce cathode active material at two Swedish sites are curtailed, increasing its likely reliance on overseas suppliers. The article also cites execution challenges, including a delayed BMW order that led to cancellation of a €2 billion contract.

Sep 2024 · TechCrunchNews article

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