Northvolt Faces Production Challenges and Potential Bankruptcy

The Swedish battery maker struggles to meet production targets and considers Chapter 11 bankruptcy protection.

Northvolt has consistently missed internal production targets for shippable battery cells since early September.
The company is considering filing for Chapter 11 bankruptcy protection in the United States, though it has not confirmed this move.
Production issues have led to the loss of a significant contract with BMW, valued at 2 billion euros.
Northvolt has reduced its workforce by 20% and shifted to weekday-only manufacturing to cut costs and improve cell quality.
Despite setbacks, Northvolt remains a key player in Europe's effort to challenge China's dominance in the EV battery market.