Earlier this autumn, Northvolt applied for “Chapter 11 reorganization” in the USA. Now Northvolt confirms for Dagens industri that the reconstruction application has gone through.
– This makes it easier to continue the path forward, says Northvolt’s press contact Erik Zsiga to DI.
Chapter 11 proceedings aim to protect the company from bankruptcy, clean up the debts and save the business. The company would probably not have had a reconstruction approved in Sweden because it is not considered viable.