Northvolt AB, the parent company of Northvolt North America, has filed for bankruptcy in Sweden. Despite this, Northvolt North America claims to be solvent and has expressed its commitment to honoring obligations towards employees.
The massive EV battery plant project in Canada, known as Northvolt Six, is facing an uncertain future. The project was initially planned to bring online by 2026 with a production capacity of 30 GWh. However, with the parent company’s bankruptcy, it remains unclear whether construction will proceed as planned.
Government financial backing for the project, including CAD $2.9 billion from Quebec and CAD $4.4 billion from the Canadian federal government, is also at risk. Northvolt North America has refused to confirm if construction will move ahead, stating that decisions regarding the subsidiary will be made by the court-appointed trustee of Northvolt AB, along with lenders.
The future of Northvolt Six remains uncertain, and any updates will be provided as more information becomes available.
Source: https://electrek.co/2025/03/12/northvolt-bankruptcy-sweden-7b-canada-ev-battery-plant