Northvolt, which has already lost a double-digit billion contract with BMW, is now warning that the car battery factory will soon run out of money.
It should have been so good, but the story of Swedish Northvolt has in many ways ended up being a nightmare. The factory urgently needs money.
This is what Dagens Industri writes.
According to the media, the company has several very acute problems. BMW has torn up a contract worth 14 billion kroner in the middle, several employees have died under mysterious circumstances, and the plan for new factories has been shut down.
Shortly after it emerged that BMW has withdrawn the giant order for electric car batteries, it emerged that Volkswagen is considering doing exactly the same. Read more about it here .
READ ALSO: Volkswagen brand may be closed by new EU rule
However, it is difficult to predict how much money Northvolt lacks. The company is not listed on the stock exchange. And according to the media, few people have access to the company's accounts.
According to DI's sources, within a week Northvolt will present a plan that will keep reconstruction and ultimately bankruptcy from the factory gate.
Northvolt: "No comment"
Otherwise, it is no more than eight months ago that Northvolt took out a loan of 32.2 billion Danish kroner from various banks. But it is uncertain how much of this money has been paid out. Blue. because the battery factory allegedly cannot meet several of the loan conditions.
– A strategic review is underway at Northvolt, which was announced in July. We are engaged in a constructive dialogue with all partners, investors and stakeholders as we move towards its (the review's, ed.) end.
– We do not comment on speculation and will communicate the results of the strategic review when the decisions have been made, says Matti Kataja, head of communications at Northvolt.
If the Swedish battery manufacturer breaks its neck due to lack of money, it will not be the first case of bankruptcy among sub-suppliers this year. Well-known companies such as BBS and Recaro are heading in the same direction.
Read more exciting news from and about the world of cars right here!
