Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing

<!doctype html> <html lang="en-GB" prefix="og: http://ogp.me/ns#"> <head> <script src=https://bundles.efilli.com/tech.eu.prod.js ></script> <meta charset="UTF-8"/> <meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no" /> <meta name="apple-mobile-web-app-capable" content="yes"> <meta name="apple-touch-fullscreen" content="yes"> <meta name="HandheldFriendly" content="True"> <meta name="google-site-verification" content="VBbXVfeaZz0LLFIuaI8qrNHTDM_QzufD2wUd-OqJEtE" /> <title>Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing - Tech.eu</title> <meta name="description" content="The company has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy." /> <link rel="apple-touch-icon" sizes="180x180" href="/v8/apple-touch-icon.png"> <link rel="icon" type="image/png" sizes="32x32" href="/v8/favicon-32x32.png"> <link rel="icon" type="image/png" sizes="16x16" href="/v8/favicon-16x16.png"> <link rel="icon" type="image/png" sizes="192x192" href="/v8/favicon-192x192.png"> <link rel="mask-icon" href="/v8/safari-pinned-tab.svg"> <meta name="msapplication-TileColor" content="#ffffff"> <meta name="theme-color" content="#ffffff"> <meta property="og:locale" content="en_GB"/> <meta property="og:type" content="website"/> <meta property="og:title" content="Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing"/> <meta property="og:description" content="The company has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy."/> <meta property="og:url" content="https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/"/> <meta property="og:site_name" content="Tech.eu"/> <meta property="article:publisher" content="https://www.facebook.com/tech.eu/"/> <meta property="fb:app_id" content="1065800733535211"/> <meta property="article:tag" content="Northvolt"/> <meta property="article:tag" content="EV batteries"/> <meta property="article:section" content="Energy"/> <meta property="article:published_time" content="2024-11-22T10:02:14.000000+00:00"/> <meta property="article:modified_time" content="2024-11-22T10:03:07.000000+00:00"/> <meta property="og:updated_time" content="2024-11-22T10:03:07.000000+00:00"/> <meta property="og:image" content="https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg"/> <meta property="og:image:secure_url" content="https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg"/> <meta property="og:image:width" content="1280"/> <meta property="og:image:height" content="720"/> <meta name="twitter:image" content="https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:description" content="The company has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy."/> <meta name="twitter:title" content="Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing"/> <meta name="twitter:site" content="@tech_eu"/> <meta name="twitter:creator" content="@tech_eu"/> <meta name="csrf-token" content="JPMDmrJLH7cwA7hnEx78RU5Oq74mTWpmYFMOnBTa"> <link rel="canonical" href="https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" /> <link rel="sitemap" type="application/xml" title="Sitemap" href="https://tech.eu/sitemap/index.xml" /> <link rel="dns-prefetch" href="https://securepubads.g.doubleclick.net"> <link rel="dns-prefetch" href="https://storage.googleapis.com"> <link rel="dns-prefetch" href="https://www.facebook.com"> <link rel="dns-prefetch" href="https://www.googletagmanager.com"> <link rel="dns-prefetch" href="https://connect.facebook.net"> <link rel="manifest" href="/manifest.json"> <script async src="https://securepubads.g.doubleclick.net/tag/js/gpt.js"></script> <link rel="stylesheet" href="/v8/css/build.min.css?v=2.75" /> <link rel="stylesheet" href="/v8/css/desktop.min.css?v=1.76" media="(min-width:576px)"> <script> if ('serviceWorker' in navigator) { window.addEventListener('load', function() { navigator.serviceWorker.register('/sw.js').then( function(registration) {}, function(err) { console.log('ServiceWorker registration failed: ', err); }); }); } </script> <script> window.gsc=window.gsc||function(){ (gsc.q=gsc.q||[]).push(arguments) }; </script> <script> var googletag = googletag || {}; googletag.cmd = googletag.cmd || []; googletag.cmd.push(function() { googletag.pubads().collapseEmptyDivs(); googletag.pubads().enableSingleRequest(); googletag.enableServices(); }); </script> <script>window.dataLayer = window.dataLayer || [];</script> <script> var gtmData = { 'gadwpAuthor': 'Cate Lawrence', 'gadwpCategory': 'Energy', 'gadwpPublicationYear': '2024', 'gadwpPublicationYearMonth': '202411', 'gadwpAdvertorial': '0', 'gadwpBrandSpeak': '0' }; window.dataLayer.push(gtmData); </script> <script >(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-TLK3423');</script> <script>var NativeAdPub = window.NativeAdPub || [];</script> <script type="application/ld+json">{"@context":"http:\/\/schema.org","@type":"WebSite","url":"https:\/\/tech.eu","potentialAction":{"@type":"SearchAction","target":"https:\/\/tech.eu\/search\/?q={search_term_string}","query-input":"required name=search_term_string"}}</script> <script type="application/ld+json">{"@context":"http:\/\/schema.org","@type":"Organization","sameAs":["https:\/\/www.facebook.com\/tech.eu\/","https:\/\/www.instagram.com\/techdoteu\/","https:\/\/www.linkedin.com\/company\/tech-eu\/","https:\/\/google.com\/+tech_eu","https:\/\/www.youtube.com\/techeu","https:\/\/twitter.com\/tech_eu"],"name":"Tech.eu","url":"https:\/\/tech.eu","logo":"https:\/\/tech.eu\/img\/techeu_logo_light.png"}</script> <script type="application/ld+json">{"@context":"https:\/\/schema.org","@type":"NewsArticle","url":"https:\/\/tech.eu\/2024\/11\/22\/a-blow-to-europes-independence-from-chinese-battery-manufacturing\/","headline":"Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing","mainEntityOfPage":"https:\/\/tech.eu\/2024\/11\/22\/a-blow-to-europes-independence-from-chinese-battery-manufacturing\/","datePublished":"2024-11-22T10:02:14+00:00","dateModified":"2024-11-22T10:03:07+00:00","description":"Swedish battery cell marker for EVs Northvolt has filed for Chapter 11 bankruptcy protection in the US, placing a blow in Europe’s ambition to divest its dependency on Chinese battery manufacturing. \r\nChapter 11 provides the company with the financing to focus on operational improvements and supporting customers, while allowing for restructuring, reorganisation, and fundraising to secure a long-term competitive positioning. \r\nNorthvolt Germany and Northvolt North America, subsidiaries of Northvolt…","articleSection":"Energy","articleBody":"Swedish battery cell marker for EVs Northvolt has filed for Chapter 11 bankruptcy protection in the US, placing a blow in Europe’s ambition to divest its dependency on Chinese battery manufacturing. \r\nChapter 11 provides the company with the financing to focus on operational improvements and supporting customers, while allowing for restructuring, reorganisation, and fundraising to secure a long-term competitive positioning. \r\nNorthvolt Germany and Northvolt North America, subsidiaries of Northvolt…","wordCount":295,"timeRequired":"PT2M","author":{"@type":"Person","name":"Cate Lawrence"},"publisher":{"@type":"Organization","name":"Tech.eu","logo":{"@type":"ImageObject","url":"https:\/\/cdn.tech.eu\/uploads\/2022\/10\/techeu_logo_light.png","width":220,"height":55}},"thumbnailUrl":"https:\/\/cdn.tech.eu\/uploads\/2024\/11\/download-10-692.jpg","image":{"@type":"ImageObject","url":"https:\/\/cdn.tech.eu\/uploads\/2024\/11\/download-10-692.jpg","width":1280,"height":720}}</script> <script> window.lazySizesConfig = window.lazySizesConfig || {}; if (navigator.onLine !== true) { window.lazySizesConfig.init = false; } </script> <script async src="/v8/js/libs/jquery.lazy.min.js"></script>  <script src="https://cdn.usefathom.com/script.js" data-site="LMPGNQZQ" defer></script>  </head> <body class="light post-single postid-54811">  <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-TLK3423" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>  <div id="dfp_ads_6746d209ab8c041" class="dfp-banner dfp-masthead aad-u-en-desktop-single_top_1" data-slot="/190839790/Techeu_970x250_Web_1" data-sizes="[970,250]"></div> <div id="fakeHeader"></div> <div id="header" class="header-main ">  <section class="header">  <div class="container"> <div class="row"> <div class="col-5 col-md-9"> <button class="nav-toggle" aria-label="Menu"> <span></span> <span></span> <span></span> </button> <a href="https://tech.eu" aria-label="Logo" class="logo"><img class="logo" src="/img/techeu-color.svg" alt="Tech.eu Logo" style="visibility: hidden;" /></a> <i class="delimiter"></i> <ul class="main-menu"> <li> <a href="#">News</a> <ul> <li><a href="https://tech.eu/news/">News</a></li> <li><a href="https://tech.eu/videos/">Videos</a></li> <li><a href="https://tech.eu/insights/posts/">Insights: Premium articles</a></li> <li><a href="https://tech.eu/subscribe-to-newsletter/">Subscribe to Newsletters</a></li> </ul> </li> <li> <a href="#">Topics</a> <ul> <li><a href="https://tech.eu/category/fintech/">Fintech</a></li> <li><a href="https://tech.eu/category/health-tech/">Healthtech</a></li> <li><a href="https://tech.eu/category/saas/">SaaS</a></li> <li><a href="https://tech.eu/category/deep-tech/">Deeptech</a></li> <li><a href="https://tech.eu/category/mobility/">Mobility</a></li> <li><a href="https://tech.eu/category/sustainability/">Sustainability</a></li> <li><a href="https://tech.eu/category/spotlight-fintech/">Spotlight: Fintech</a></li> </ul> </li> <li> <a href="#">Insights</a> <ul> <li><a href="https://tech.eu/insights/">Sign up for Insights</a></li> <li><a href="https://tech.eu/category/podcast/">Podcasts</a></li> <li class="strong-link"><a href="https://tech.eu/insights/posts/"><span class="sl strong-link-insights"></span><span class="strong-link-info">Premium articles</span></a></li> <li class="strong-link"><a href="https://tech.eu/insights/reports/"><span class="sl strong-link-reports"></span><span class="strong-link-info">Reports</span></a></li> </ul> </li> <li><a href="https://tech.eu/event/2025/summit-london/" style="color: #ed1c24;">Summit London 2025</a></li> </ul> </div> <div class="col-7 col-md-3 text-right"> <ul class="right-menu"> <li><a class="btn-search-menu"><i class="icon-md icon-search"></i></a></li> <li class="rm-n-h"> <a class="toggle-sn unb-count" data-target="notification-open"> <i class="icon-md icon-notifications black"></i> </a> <ul class="sub-nav-notifications"> <li> <div class="row"><div class="col-6"><span class="sb-title">NOTIFICATIONS</span></div><div class="col-6" style="padding-left: 0;"></div></div> <ul id="notificationDropList" class="scroll-thin" data-redirect="https://tech.eu/account/notifications/go/%id%/" data-auth="guest" ></ul> </li> </ul> </li> <li> <a class="toggle-sn" data-target="user-login-open"> <i class="icon-md icon-member black"></i> </a> <ul class="sub-nav-login"> <li> <span class="sn-login">Sign in to your account, or Sign up to stay up to date with the hottest European tech startup news.</span> <div class="row"> <div class="col-6"> <a href="https://tech.eu/login/" class="btn btn-block text-center btn-primary">Sign in</a> </div> <div class="col-6"> <a href="https://tech.eu/membership/free/" class="btn btn-block text-center btn-pale">Sign up</a> </div> </div> </li> </ul> </li> </ul> </div> </div> </div> </section>   <div class="full-navigation">  <div class="container full-page-navigation"> <div class="d-md-none"></div> <div class="row flex-reverse"> <div class="col-12 col-md-8"> <div class="d-md-none"> <div class="fp-search-fake"> <span class="icon-sm icon-search"></span> Search on Tech.eu... </div> </div> <ul class="fp-navigation"> <li> <a href="#">News</a> <ul> <li><a href="https://tech.eu/news/"><span>News</span></a></li> <li><a href="https://tech.eu/videos/"><span>Videos</span></a></li> <li><a href="https://tech.eu/insights/posts/"><span>Insights: Premium articles</span></a></li> <li><a href="https://tech.eu/subscribe-to-newsletter/"><span>Subscribe to Newsletters</span></a></li> </ul> </li> <li class="fp-sub-mobile"> <a class="fb-sm-cats">Topics<span class="icon-sm icon-chevron-right"></span></a> <ul> <li><a href="https://tech.eu/category/fintech/">Fintech</a></li> <li><a href="https://tech.eu/category/health-tech/">Healthtech</a></li> <li><a href="https://tech.eu/category/saas/">SaaS</a></li> <li><a href="https://tech.eu/category/deep-tech/">Deeptech</a></li> <li><a href="https://tech.eu/category/mobility/">Mobility</a></li> <li><a href="https://tech.eu/category/sustainability/">Sustainability</a></li> <li><a href="https://tech.eu/category/spotlight-fintech/">Spotlight: Fintech</a></li> </ul> </li> <li class="fp-sub-mobile"> <a class="fb-sm-cats">Events<span class="icon-sm icon-chevron-right"></span></a> <ul> <li><a href="https://tech.eu/event/2025/summit-london/" target="_blank">Summit London <span class="hide-od mm-e-date">25-26 March</span></a></li> <li><a href="https://tech.eu/events/" target="_blank" style="font-weight: 600;">Events Calendar</a></li> </ul> </li> <li> <a>Tech.eu</a> <ul class="fp-ma-links"> <li class="hide-om"><a href="https://tech.eu/about-us/">About</a></li> <li class="hide-om"><a href="https://tech.eu/authors/">Authors</a></li> <li class="hide-om"><a href="https://tech.eu/guest-writer/">Contribute</a></li> <li class="hide-om"><a href="https://tech.eu/contact/">Contact</a></li> <li class="divider"></li>   <li><a href="https://tech.eu/startup-form/">Pitch Your Startup</a></li>  <li><a href="/advertise">Advertise</a></li> </ul> </li> </ul> </div> <div class="col-12 col-md-4 fp-sr-body"> <div class="fp-scroll-right scroll-thin"> <div class="card card-default mg-b-20"> <div class="row"> <div class="col-12 col-md-12 mg-b-10 f-size-r-14-16">Sign in to your account, or Sign up to stay up to date with the hottest European tech startup news.</div> <div class="col-6 col-md-5"><a href="https://tech.eu/login/" class="btn btn-sm-block btn-primary">Sign in</a></div> <div class="col-6 col-md-5"><a href="https://tech.eu/membership/free/" class="btn btn-sm-block btn-pale">Sign up</a></div> </div> </div> <a href="https://tech.eu/insights/" class="card card-default mg-b-20"> <span class="w-badge w-b-25 wb-insights mg-b-10"></span> Tech.eu Insights creates insight and guides strategies with its comprehensive content and reports. </a> <a href="https://tech.eu/insights/reports/" class="card card-default mg-b-20"> <span class="w-badge w-b-25 wb-reports mg-b-10"></span> Tech.eu Reports stand out with their comprehensive content and in-depth research reports. </a> <a href="https://tech.eu/events/" class="card card-default mg-b-20"> <span class="w-badge w-b-25 wb-events"></span> </a> <a href="https://jobs.tech.eu/?source=navbar" class="card card-default mg-b-20"> <span class="w-badge w-b-25 wb-jobs"></span> </a> </div> </div> </div> </div>   <div class="container full-page-search"> <div class="row"> <div class="col-12 col-md-7 fp-full-fix"> <div class="big-search"> <form action="https://tech.eu/search/" id="siteSearchForm" method="get"> <input type="text" name="q" class="search-big-input" data-suggest="https://tech.eu/api/v2/posts/search/suggest" id="searchBig" tabindex="0" placeholder="Search on Tech.eu..." /> </form> </div> <div class="fp-search-recent-posts"> <div class="fp-sr-p-title">RECENT POSTS</div> <ul class="scroll-thin"> <li><a href="https://tech.eu/2024/11/26/ampeco-secures-26-million-to-accelerate-global-ev-charging-networks/">Ampeco secures $26 million to accelerate global EV charging networks</a></li> <li><a href="https://tech.eu/2024/11/26/monzo-appoints-two-cfos-including-one-with-ipo-experience/">Monzo appoints two CFOs including one with IPO-experience</a></li> <li><a href="https://tech.eu/2024/11/26/cambridge-uni-spin-out-molyon-raises-46m-from-plural-to-manufacture-next-generation-batteries/">Lithium-sulfur battery startup Molyon raises $4.6M</a></li> <li><a href="https://tech.eu/2024/11/25/solaris-says-close-to-finalising-agreement-amid-reports-of-urgent-eur100m-funding-round/">Solaris says “close to finalising agreement” amid reports of urgent €100M funding round</a></li> <li><a href="https://tech.eu/2024/11/25/ltimindtree-and-microsoft-partner-to-drive-ai-powered-solutions-with-joint-strategy/">LTIMindtree and Microsoft partner to drive AI-powered solutions with joint strategy</a></li> </ul> </div> </div> </div> </div>  </div>   <div class="fp-newsletter"> <div class="row"> <div class="col-7 f-size-r-14-16"> Keep the pulse of the technology world with the Tech.eu Newsletter. </div> <div class="col-5"> <a href="https://tech.eu/subscribe-to-newsletter/" class="btn btn-gray btn-block text-center">Subscribe</a> </div> </div> </div>   <div class="ui-options-nav"> <div class="container"> <div class="row"> <div class="col-12 col-md-7"> <span class="btn-switch-ui btn-switch-mode theme-light"><span>Dark Theme</span><button class="btn-switch "></button></span> </div> <div class="col-12 col-md-5 text-right"> <ul class="nav-socials"> <li class="s-twitter"><a href="https://twitter.com/tech_eu" target="_blank" aria-label="Twitter"><img src="/v8/icons/x-twitter.svg?v=0.1" alt="Twitter" width="24px" height="24px" /></a></li> <li class="s-facebook"><a href="https://www.facebook.com/tech.eu" target="_blank" aria-label="Facebook"><img src="/v8/icons/facebook.svg" alt="Facebook" width="24px" height="24px" /></a></li> <li class="s-linkedin"><a href="https://www.linkedin.com/company/tech-eu/" aria-label="Linkedin"><img src="/v8/icons/linkedin.svg" alt="Linkedin" width="24px" height="24px" /></a></li> <li class="s-instagram"><a href="https://www.instagram.com/techdoteu/" aria-label="Instagram"><img src="/v8/icons/instagram-g.svg" alt="Instagram" width="24px" height="24px" /></a></li> <li class="s-rss"><a href="https://tech.eu/feed/" aria-label="RSS Feed"><img src="/v8/icons/rss.svg" alt="RSS Feed" width="24px" height="24px" /></a></li> </ul> </div> </div> </div> </div>  </div> <div class="fp-search-insights"> <div class="fp-si-main"> <div class="w-badge bg-center wb-insights-dark w-b-25 mg-b-20"></div> <div class="search-insights-muted mg-b-20"> Tech.eu Insights creates insight and guides strategies with its comprehensive content and reports. Browse popular Insights content. </div> <ul class="scroll-dark-default"> <li><a href="https://tech.eu/2024/11/18/last-week-recap-more-than-60-tech-funding-deals-worth-over-eur1b/">Last week recap: More than 95 tech funding deals worth over €1.2B</a></li> <li><a href="https://tech.eu/2024/11/11/last-week-recap-more-than-60-tech-funding-deals-worth-over-376m-around-68-collected-by-10-biggest-deals/">Last week recap: More than 60 tech funding deals worth over €376M, around 68% collected by 10 biggest deals</a></li> <li><a href="https://tech.eu/2024/11/07/october/">European tech company funding is up 20 per cent YoY</a></li> <li><a href="https://tech.eu/2024/10/28/european-tech-weekly-recap-more-than-45-tech-funding-deals-worth-over-eur1b/">European tech weekly recap: More than 45 tech funding deals worth over €1B</a></li> <li><a href="https://tech.eu/2024/10/21/last-week-recap-european-tech-companies-raised-over-774m-around-55-collected-by-10-biggest-deals/">Last week recap: European tech companies raised over €774M, around 55% collected by 10 biggest deals</a></li> </ul> <div class="search-insights-muted mg-b-20"> Examine the effects of the latest technology with the Tech.eu lens, see the details and create powerful strategies. Take immediate action to access exclusive articles and reports. </div> <div class="mg-b-20"> <a href="https://tech.eu/insights/" class="btn btn-secondary p-x-40">Review Advantageous Packages</a> </div> <div class="search-insights-footer"> Does your company have Insights access? <a href="https://tech.eu/membership/my-company/">Check it</a> </div> </div> </div> <div id="wrapper"> <div> <div class="container single-post " data-id="54811"> <article itemtype="http://schema.org/Article">  <div class="row"> <div class="offset-md-2 col-md-8"> <div class="row"> <div class="col-6"> <div class="single-post-category"> <a href="https://tech.eu/category/energy/" title="Energy">Energy</a> <button type="button" class="btn btn-follow-content " data-action="https://tech.eu/api/v2/account/settings/following/save" data-type="category" data-id="16547"> <span class="content-follow-btn"><i class="icon-sm icon-follow icon-d-inline"></i></span> <span class="content-followed-btn"><i class="icon-sm icon-check-green icon-d-inline"></i></span> <span class="content-followed-btn-hover"><i class="icon-sm icon-unfollow icon-d-inline"></i></span> </button> </div> </div> <div class="col-6 text-r"> </div> </div> <h1 class="single-post-title">Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing</h1> <div class="single-post-summary"> The company has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy. </div> <div class="row"> <div class="col-8 col-md-5"> <a href="https://tech.eu/authors/catelawrence/" class="single-post-meta"> <span class="single-post-avatar"> <span class="avatar size-default"><span style="background-image: url(https://cdn.tech.eu/id/202212/b7f25ed04067dd316763c7b3395e7aa4.jpg);"></span></span> </span> <span class="single-post-meta-text"> <strong>Cate Lawrence</strong> <span class="sp-date">22 November 2024</span> </span> </a> </div> <div class="col-4 col-md-7 post-meta-actions"> <div class="post-actions"> <a title="Like" data-id="54811" class="btn-post-like "> <i class="icon-md"></i><span></span> </a> <a title="Listen this article" class="circle-audio-player" data-post="54811" data-action="https://tech.eu/api/post/audio/listen/54811" data-audio="https://cdn.tech.eu/audio/2024/11/p2ceolpxskhoarfpyid27jy7h6jc3342.mp3"></a> </div> <div class="post-sharing"> <a data-id="54811" class="btn-post-share"> <i class="icon-md icon-share"></i> </a>  <div class="share-drop-up"> <div class="share-drop-up-wrapper"> <div class="sd-head">Share</div> <div class="share-targets"> <a href="https://www.facebook.com/sharer.php?u=https%3A%2F%2Ftech.eu%2F2024%2F11%2F22%2Fa-blow-to-europes-independence-from-chinese-battery-manufacturing%2F" target="_blank"> <i class="icon-md icon-g-facebook"></i> Facebook </a> <a href="https://twitter.com/intent/tweet?text=Northvolt+files+for+Chapter+11%3A+A+blow+to+Europe%27s+independence+from+Chinese+battery+manufacturing&url=https%3A%2F%2Ftech.eu%2F2024%2F11%2F22%2Fa-blow-to-europes-independence-from-chinese-battery-manufacturing%2F&via=tech_eu" target="_blank"> <i class="icon-md icon-g-twitter"></i> Twitter </a> <a href="https://www.linkedin.com/cws/share?url=https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" target="_blank"> <i class="icon-md icon-g-linkedin"></i> Linkedin </a> </div> </div> </div>  </div> </div> </div> </div> </div>   <div class="single-post-image"> <img src="https://cdn.tech.eu/uploads/assets/techeu-lazy-load.jpeg" class="lazyload" alt="Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing" data-src="https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg" data-sizes="auto" data-srcset="https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg 1280w, https://cdn.tech.eu/uploads/2024/11/download-10-692_48x27.jpg 48w, https://cdn.tech.eu/uploads/2024/11/download-10-692_240x135.jpg 240w, https://cdn.tech.eu/uploads/2024/11/download-10-692_400x225.jpg 400w, https://cdn.tech.eu/uploads/2024/11/download-10-692_800x450.jpg 800w" /> </div>   <div class="single-post-body"> <div class="row"> <div class="col-12 col-md-2 single-post-sidebar"> <div class="sticky-sidebar"> <div class="sticky-sidebar-item"> <div class="share-m-title">Share</div> <div class="post-actions"> <a title="Like" data-id="54811" class="btn-post-like "> <i class="icon-md"></i><span></span> </a> <a title="Add to collection" data-id="54811" data-target="#ajaxModal" class="btn-post-collection "> <i class="icon-md"></i><span></span> </a> <a title="Listen this article" class="circle-audio-player" data-post="54811" data-action="https://tech.eu/api/post/audio/listen/54811" data-audio="https://cdn.tech.eu/audio/2024/11/p2ceolpxskhoarfpyid27jy7h6jc3342.mp3"></a> </div> <div class="post-sharing"> <a href="https://www.facebook.com/sharer.php?u=https%3A%2F%2Ftech.eu%2F2024%2F11%2F22%2Fa-blow-to-europes-independence-from-chinese-battery-manufacturing%2F" target="_blank" title="Share on Facebook" class="share-social"><i class="icon-md icon-g-facebook"></i></a> <a href="https://twitter.com/intent/tweet?text=Northvolt+files+for+Chapter+11%3A+A+blow+to+Europe%27s+independence+from+Chinese+battery+manufacturing&url=https%3A%2F%2Ftech.eu%2F2024%2F11%2F22%2Fa-blow-to-europes-independence-from-chinese-battery-manufacturing%2F&via=tech_eu" target="_blank" title="Share on Twitter" class="share-social"><i class="icon-md icon-g-twitter"></i></a> <a href="https://www.linkedin.com/cws/share?url=https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" target="_blank" class="share-social" title="Share on Linkedin"><i class="icon-md icon-g-linkedin"></i></a> <a href="whatsapp://send?text=https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" target="_blank" class="share-social hfd" title="Share via Whatsapp"><i class="icon-md icon-g-whatsapp"></i></a> <div class="dropdown dropright no-drop-icon"> <i class="icon-md icon-three-dots dropdown-toggle" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false"></i> <div class="dropdown-menu" aria-labelledby="dropdownMenuButton"> <a class="dropdown-item" title="Send email" href="/cdn-cgi/l/email-protection#1f206c6a7d757a7c6b2251706d6b776970736b3f7976737a6c3f79706d3f5c777e6f6b7a6d3f2e2e253f5e3f7d7370683f6b703f5a6a6d706f7a393c2f2c26246c3f76717b7a6f7a717b7a717c7a3f796d70723f5c7776717a6c7a3f7d7e6b6b7a6d663f727e716a797e7c6b6a6d767178397d707b6622776b6b6f6c2530306b7a7c77317a6a302d2f2d2b302e2e302d2d307e327d737068326b70327a6a6d706f7a6c3276717b7a6f7a717b7a717c7a32796d7072327c7776717a6c7a327d7e6b6b7a6d6632727e716a797e7c6b6a6d76717830">Send email</a> <a class="dropdown-item copy-clipboard" data-content="https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" title="Copy link">Copy link</a> </div> </div> </div> </div> </div> </div> <div class="col-12 col-md-8">  <div class="single-post-content"> <p dir="ltr">Swedish battery cell marker for EVs <a href="https://tech.eu/2024/10/01/northvolt-vc-backer-optimistic-about-its-future-despite-laying-off-1600-workers/" target="_blank">Northvolt</a> has filed for Chapter 11 bankruptcy protection in the US, placing a blow in Europe’s ambition to divest its dependency on Chinese battery manufacturing. </p> <p dir="ltr">Chapter 11 provides the company with the financing to focus on operational improvements and supporting customers, while allowing for restructuring, reorganisation, and fundraising to secure a long-term competitive positioning. </p> <p dir="ltr"><a href="https://tech.eu/2024/01/16/largest-ever-green-loan-in-europe-northvolt-raises-5-b-for-expansion/" target="_blank">Northvolt Germany</a> and Northvolt North America, subsidiaries of Northvolt AB with projects in Germany and Canada, are financed separately and will continue to operate as usual outside of the Chapter 11 process as key parts of Northvolt’s strategic positioning.</p> <p dir="ltr">The company is also announcing that Peter Carlsson will take on a role as Senior Advisor and step aside from his role as CEO. He also remains a Member of the Board.</p> <p dir="ltr">Northvolt was founded in 2016 by two former Tesla executives, Peter Carlsson and Paolo Cerruti. It raised over $13.8 billion. However, it has struggled against falling demand for electric cars and fierce competition from Chinese manufacturers. </p> <p dir="ltr">It laid off 1,600 workers in September and was found earlier this month to fall short of its production goal of 100,000 cells per week, only managing to ship around 20,000. It lost a €2 billion contract with BMW in June,</p> <p dir="ltr">Northvolt Ett, the company’s flagship battery gigafactory in Skellefteå, Sweden, and Northvolt Labs in Västerås, Sweden will remain operational however, Northvolt suspected production at one of the two manufacturing buildings at the Skelleftea plant in late October, cutting costs by ending its 24/7 production cycle earlier this month. </p> <p dir="ltr">According to Northvolt, the company has enough cash for a week of operations but has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy.</p> <p dir="ltr">The company expects to complete the restructuring by the first quarter of 2025.</p> <p><strong id="docs-internal-guid-f07eed2b-7fff-1e29-0ef1-30b034936ab3"><br><br></strong></p> <div data-getsitecontrol-inline="284877" style="margin-bottom: 20px;"></div> </div>   <div id="dfp_ads_6746d209adebd70" class="dfp-banner aad-u-en-desktop-single_after_post_1" data-slot="/190839790/Techeu_300x250_Web_2" data-sizes="[]"></div>   <script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script><script type="text/post-content-ad"> <div id="dfp_ads_6746d209ae03f34" style="width:300px; height:250px;" class="dfp-banner aad-u-en-desktop-single_inline_1" data-slot="/190839790/Techeu_300x250_Web_1" data-sizes="[300,250]"></div> </script>   <ul class="single-post-tags"> <li> <a href="https://tech.eu/category/mobility/" title="Mobility">Mobility</a> <button type="button" class="btn btn-follow-content " data-action="https://tech.eu/api/v2/account/settings/following/save" data-type="category" data-id="16565"> <span class="content-follow-btn"><i class="icon-sm icon-follow icon-d-inline"></i></span> <span class="content-followed-btn"><i class="icon-sm icon-check-green icon-d-inline"></i></span> <span class="content-followed-btn-hover"><i class="icon-sm icon-unfollow icon-d-inline"></i></span> </button> </li> <li> <a href="https://tech.eu/tag/northvolt/" title="Northvolt">Northvolt</a> <button type="button" class="btn btn-follow-content " data-action="https://tech.eu/api/v2/account/settings/following/save" data-type="tag" data-id="11568"> <span class="content-follow-btn"><i class="icon-sm icon-follow icon-d-inline"></i></span> <span class="content-followed-btn"><i class="icon-sm icon-check-green icon-d-inline"></i></span> <span class="content-followed-btn-hover"><i class="icon-sm icon-unfollow icon-d-inline"></i></span> </button> </li> <li> <a href="https://tech.eu/tag/ev-batteries/" title="EV batteries">EV batteries</a> <button type="button" class="btn btn-follow-content " data-action="https://tech.eu/api/v2/account/settings/following/save" data-type="tag" data-id="21706"> <span class="content-follow-btn"><i class="icon-sm icon-follow icon-d-inline"></i></span> <span class="content-followed-btn"><i class="icon-sm icon-check-green icon-d-inline"></i></span> <span class="content-followed-btn-hover"><i class="icon-sm icon-unfollow icon-d-inline"></i></span> </button> </li> </ul>  <div class="single-post-footer-i"> <div class="post-actions row"> <div class="col-6"> <a title="Like" data-id="54811" class="btn-post-like "> <i class="icon-md"></i><span class="with-text"></span> </a> </div> <div class="col-6 text-r"> <a title="Add to collection" data-id="54811" data-target="#ajaxModal" class="btn-post-collection "> <i class="icon-md"></i><span class="d-none"></span> </a> </div> </div> </div>  <button type="button" aria-label="Write comment" data-id="54811" class="btn hfd btn-get-comments btn-block btn-secondary">Write Comment</button> <div class="comments-wrapper " id="comments_54811"> <div class="mobile-comments-header" style="background-image: url(https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg);"> <a class="m-comment-close"> <i class="icon-md icon-arrow-left"></i> Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing </a> </div> <div class="m-c-padding"> <div class="comment-head">Comments </div> <ol class="comment-list"> <li class="comment depth-0 no-comments"> <div class="write-first-comment"> <div class="comment-card text-center"> <div><img data-src="/v8/img/bg_comment.svg" width="211" height="200" class="lazyload" alt="Would you like to write the first comment?"></div> <p>Would you like to write the first comment?</p> <a href="https://tech.eu/login/" class="btn btn-primary">Login to post comments</a> </div> </div> </li> </ol> </div> </div>  <script type="text/comment-first"> <li class="comment depth-0 no-comments" style="margin-top: 50px;"> <div class="write-first-comment"> <div class="comment-card text-center"> <div><img data-src="/v8/img/bg_comment.svg" class="lazyload" alt="Would you like to write the first comment?"></div> <p>Would you like to write the first comment?</p> </div> </div> </li> </script> <div class="widget-side-newsletter"> <style type="text/css"> .g-recaptcha { transform:scale(0.8); -webkit-transform:scale(0.8); transform-origin:0 0; -webkit-transform-origin:0 0; } </style> <div class="card-widget widget-newsletter " style="display: block"> <div class="wn-brand"></div> <div class="wn-info"> Follow the developments in the technology world. What would you like us to deliver to you? </div> <form id="widgetNewsletterForm" data-action="https://tech.eu/api/newsletter/"> <ul class="newsletter-list"> <li> <label class="el-checkbox"> <input type="checkbox" value="2" name="newsletter[]" > <span class="el-checkbox-style"></span> <span>Weekly Newsletter</span> </label> </li> <li> <label class="el-checkbox"> <input type="checkbox" value="4" name="newsletter[]" > <span class="el-checkbox-style"></span> <span>Event Announcements</span> </label> </li> <li> <label class="el-checkbox"> <input type="checkbox" value="9" name="newsletter[]" > <span class="el-checkbox-style"></span> <span>Daily Newsletter</span> </label> </li> </ul> <div class="form-group wn-input-group" style="margin-bottom: 10px"> <input id="newsletterInput" class="input-form" type="email" name="email" placeholder="name@provider.com"> </div> <div class="form-captcha " style="overflow: hidden"> <div id="captcha-container"></div> </div> <div class="form-group" style="margin-bottom: 10px"> <button class="btn btn-primary btn-block" type="submit">Save my choices</button> </div> <div class="wn-success">Your subscription registration has been successfully created.</div> </form> </div> </div>  <div class="text-c mg-b-10 mg-t-10"></div>  </div> </div> </div> </article>  </div> <div id="recommendedPostWidget" data-action="https://tech.eu/api/post/recommended/54811"></div> <div class="next-post"> <div class="section-w-b-head mobile-gray-edge" style="position: relative"> <a id="closeNextArticleBar"><i class="icon-xl icon-chevron-down"></i></a> <div class="black-g-head bg-angled-edge"></div> <div class="container"> <h2 class="s-w-b-title">Next news</h2> <div class="row"> <div class="offset-md-2 col-md-8"> <div class="post post-card post-item-54809"> <div class="row"> <div class="col-12 col-md-4"> <a href="https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/" title="BSV Ventures closes €15M Fund for Pre-Seed and Seed investments" class="next-post-image"> <img src="https://cdn.tech.eu/uploads/assets/techeu-lazy-load.jpeg" class="post-image lazyload" alt="BSV Ventures closes €15M Fund for Pre-Seed and Seed investments" data-sizes="auto" data-srcset="https://cdn.tech.eu/uploads/2024/11/download-9-986_48x27.jpg 48w, https://cdn.tech.eu/uploads/2024/11/download-9-986_240x135.jpg 240w, https://cdn.tech.eu/uploads/2024/11/download-9-986_400x225.jpg 400w, https://cdn.tech.eu/uploads/2024/11/download-9-986_800x450.jpg 800w"> </a> </div> <div class="col-12 col-md-8"> <div class="next-post-body"> <div class="next-post-badge">NEXT</div> <a href="https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/" class="next-post-title" title="BSV Ventures closes €15M Fund for Pre-Seed and Seed investments"> BSV Ventures closes €15M Fund for Pre-Seed and Seed investments </a> <div class="next-post-desc">Pre-Seed and Seed stage investors BSV Ventures has closed a €15 million fund with the inclusion…</div> <a href="https://tech.eu/authors/catelawrence/" class="next-post-author">Cate Lawrence</a> <a title="Add to Collection" data-id="54809" data-target="#ajaxModal" class="btn-post-collection"> <i class="icon-md"></i><span class="d-none"></span> </a> </div> </div> </div> </div> </div> </div> </div> </div> </div> <script> window['postImpression'] = { "url": 'https://tech.eu/api/post/stats', "id": 54811 }; </script> </div> </div> <footer> <section id="footer"> <div class="container"> <div class="row"> <div class="col-12 col-md-2 m-c-d-l"> <a href="/" aria-label="Logo"><img class="logo" src="/img/techeu-color.svg" alt="Tech.eu Logo" style="background-image: initial;" /></a> </div> <div class="col-2 hfm"> <div class="footer-title">News</div> <ul class="footer-nav"> <li><a href="https://tech.eu/news/">News</a></li> <li><a href="https://tech.eu/insights/posts/">Insights: Premium articles</a></li> <li><a href="https://tech.eu/subscribe-to-newsletter/">Subscribe to Newsletters</a></li> </ul> </div> <div class="col-2 hfm"> <div class="footer-title">Topics</div> <ul class="footer-nav"> <li><a href="https://tech.eu/category/fintech/">Fintech</a></li> <li><a href="https://tech.eu/category/health-tech/">Healthtech</a></li> <li><a href="https://tech.eu/category/saas/">SaaS</a></li> <li><a href="https://tech.eu/category/deep-tech/">Deeptech</a></li> <li><a href="https://tech.eu/category/mobility/">Mobility</a></li> <li><a href="https://tech.eu/category/sustainability/">Sustainability</a></li> <li><a href="https://tech.eu/category/spotlight-fintech/">Spotlight: Fintech</a></li> </ul> </div> <div class="col-2 hfm"> <div class="footer-title"></div> <ul class="footer-nav"> </ul> </div> <div class="col-12 col-md-2"> <div class="footer-title hfm">Tech.eu</div> <ul class="footer-nav m-lf-fix fmt-mobile"> <li><a href="https://tech.eu/about-us/">About</a></li> <li><a href="https://tech.eu/authors/">Authors</a></li> <li><a href="https://tech.eu/guest-writer/">Contribute</a></li> <li><a href="https://tech.eu/advertise/">Advertise</a></li>  <li><a href="https://tech.eu/startup-form/">Pitch Your Startup</a></li> <li><a href="https://tech.eu/contact/">Contact</a></li> </ul> </div> <div class="col-12 col-md-2"> <div class="footer-title hfm"></div> <ul class="footer-nav m-lf-fix"> <li class="hfm"><a href="https://tech.eu/events/">Events</a></li> <li class="divider hfm"></li> <li><a class="efl-edit" href="#">Cookie Settings</a></li> <li><a href="https://tech.eu/privacy-policy/">Privacy Policy</a></li> <li class="hfm"><a href="https://tech.eu/terms-conditions/">Terms & Conditions</a></li> </ul> </div> </div> <div class="row footer-bottom"> <div class="col-12 hfd" style="text-align: center;"> A <a href="https://www.webrazzigroup.com" target="_blank">webrazzi</a> company </div> <div class="col-4 hfm"> A <a href="https://www.webrazzigroup.com" target="_blank">webrazzi</a> company </div> <div class="col-4 hfm copy-r"> All Rights Reserved. © 2024 </div> <div class="col-12 col-md-4 text-right"> <ul class="nav-socials" style="color: transparent;line-height: 0;font-size: 0;"> <li class="s-twitter"><a href="https://twitter.com/tech_eu" target="_blank" aria-label="Twitter"><img src="/v8/icons/x-twitter.svg?v=0.1" alt="Twitter" width="24px" height="24px" /></a></li> <li class="s-facebook"><a href="https://www.facebook.com/tech.eu" target="_blank" aria-label="Facebook"><img src="/v8/icons/facebook.svg" alt="Facebook" width="24px" height="24px" /></a></li> <li class="s-linkedin"><a href="https://www.linkedin.com/company/tech-eu/" aria-label="Linkedin"><img src="/v8/icons/linkedin.svg" alt="Linkedin" width="24px" height="24px" /></a></li> <li class="s-instagram"><a href="https://www.instagram.com/techdoteu/" aria-label="Instagram"><img src="/v8/icons/instagram-g.svg" alt="Instagram" width="24px" height="24px" /></a></li> <li class="s-rss"><a href="https://tech.eu/feed/" aria-label="RSS Feed"><img src="/v8/icons/rss.svg" alt="RSS Feed" width="24px" height="24px" /></a></li> </ul> </div> </div> </div> </section> </footer> <div class="modal" id="globalAlert" tabindex="-1" role="dialog"> <div class="modal-dialog" role="document"> <div class="modal-content modal-alert-content"> <a class="close-alert-modal"><i class="icon-sm icon-close"></i></a> </div> </div> </div> <div class="modal" id="ajaxModal" tabindex="-1" role="dialog"> <div class="modal-dialog" role="document"> <div class="modal-content"></div> </div> </div> <script> gsc('params', { isUser: 0 }); </script> <script type="text/login-modal"> <div style="margin-bottom: 25px; text-align:center">Sign in to your account, or Sign up to stay up to date with the hottest European tech startup news.</div> <div class="row"> <div class="col-6"> <a href="https://tech.eu/login/" class="btn btn-block btn-primary">Sign in</a> </div> <div class="col-6"> <a href="https://tech.eu/membership/free/" class="btn btn-block btn-pale">Sign up</a> </div> </div> </script> <script>var _sf_startpt=(new Date()).getTime()</script> <script> window.WebApp = {"csrfToken":"JPMDmrJLH7cwA7hnEx78RU5Oq74mTWpmYFMOnBTa","locale":"en","url":{"login":"\/login\/","api.post.like":"https:\/\/tech.eu\/api\/v2\/posts\/54811\/action\/like","api.post.collection":"https:\/\/tech.eu\/api\/post\/collection","api.post.comments":"https:\/\/tech.eu\/api\/v2\/posts\/54811\/comments","api.notification.count":"https:\/\/tech.eu\/api\/v2\/account\/notifications\/count","api.ecosystem.organization":"https:\/\/tech.eu\/api\/v2\/ecosystem\/organization\/html\/_id_"},"site":"tech.eu","infinite":5,"auth":false,"translate":{"something_went_wrong":"Something went wrong","confirm":"Approve","cancel":"Dismiss","add_to_collection":"Add to Collection","please_login":"Please login","success_job":"Successful","free":"Free","select_your_address":"Please select your address.","three_d_modal_title":"3d Secure","iframe_not_supported":"Your operation cannot be performed because your browser does not support iframes.","product_summary_error":"Something went wrong. Product summary could not be loaded.","unsupported_images":"The photo type you selected is not supported. Supported extensions: ","browser_not_support":"Your browser does not support the file upload.","card_will_be_deleted":"The card you selected will be deleted. Are you sure?","collection_delete_confirm":"Are you sure you want to delete the collection?","pagination_exceed":"The maximum number of results has been reached.","pagination_error":"An error occurred while fetching results.","append_like_count":"like","delete":"Delete","delete_comment_confirm":"Are you sure you want to delete your comment?","write_your_email":"Enter your e-mail address.","newsletter_choice":"Select the newsletter you want to subscribe to.","copied":"Copied!","selected_file_append":"Selected file: ","networking_modal_title":"Networking Settings","networking_not_saved":"Your settings could not be saved. There is a problem.","card_visit_modal_title":"Share your cardvisit","unseen_notification":"You have unread notifications","ad":"Ad","notification_not_found":"No other notifications found.","terms_not_accepted":"Please accept the Terms of Service and Privacy Policy."}}</script>  <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-TLK3423" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>  <script src="/v8/js/vendor.min.js?v=1.05"></script> <script src="/v8/js/build.min.js?v=2.33"></script> <script type="text/javascript" async src="//l.getsitecontrol.com/g4dnvx8w.js"></script>  <script async defer src="https://sa-api.tech.eu/latest.js"></script> <noscript><img src="https://sa-api.tech.eu/noscript.gif" alt="" referrerpolicy="no-referrer-when-downgrade" /></noscript>  <script>(function(){function c(){var b=a.contentDocument||a.contentWindow.document;if(b){var d=b.createElement('script');d.innerHTML="window.__CF$cv$params={r:'8e90985b9cba8982',t:'MTczMjY5NDUzNy4wMDAwMDA='};var a=document.createElement('script');a.nonce='';a.src='/cdn-cgi/challenge-platform/scripts/jsd/main.js';document.getElementsByTagName('head')[0].appendChild(a);";b.getElementsByTagName('head')[0].appendChild(d)}}if(document.body){var a=document.createElement('iframe');a.height=1;a.width=1;a.style.position='absolute';a.style.top=0;a.style.left=0;a.style.border='none';a.style.visibility='hidden';document.body.appendChild(a);if('loading'!==document.readyState)c();else if(window.addEventListener)document.addEventListener('DOMContentLoaded',c);else{var e=document.onreadystatechange||function(){};document.onreadystatechange=function(b){e(b);'loading'!==document.readyState&&(document.onreadystatechange=e,c())}}}})();</script></body> </html>

CINXE.COM

Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing - Tech.eu