FILE PHOTO: A view of a sign near the Northvolt factory in Skelleftea, Sweden August 8, 2024. TT News Agency/Magnus Lejhall/via REUTERS/File Photo
STOCKHOLM/BERLIN/FRANKFURT (Reuters) - Northvolt asked more than 100 shareholders at a meeting this month to provide $1.29 billion over the next two years to help restore the bankrupt Swedish battery maker's business, two sources familiar with the matter told Reuters.
Considered Europe's best shot at a home-grown electric vehicle battery champion to compete with Chinese rivals BYD and CATL, Northvolt filed for Chapter 11 U.S. bankruptcy in November after talks for fresh funding with investors collapsed amid production and other problems.
