Does not rule out reviewing the law

1,600 people are to be notified from Northvolt – today the company in crisis received a visit from Labor Market Minister Mats Persson (L).

He does not rule out the need to review the law on labor immigration.

At the same time, a “meeting of fate” awaited the battery court.

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The adversities have replaced each other for the crumbling Northvolt. On Monday came the shock news for the employees at the factory in Skellefteå: 1,000 people are being notified.

Since then, more setbacks have come. Yesterday reported Today’s News that the German government, which previously offered financial support for the construction of a factory in Heide, is backing down.

In January, Northvolt secured a mammoth loan package valued at $5 billion. But it doesn’t seem to have been enough. It has been reported in the media that at least SEK 7.5 billion is now needed in capital additions to avoid acute payment problems.

“Fate meeting” is expected

“Right now the company is in a very strained financing situation that we hope they find a solution to,” writes Jens Söderblom, press manager at AMF, which holds 2.8 percent of the shares, in a comment to TT.

During Friday, what was described as a “meeting of fate” was also expected.

Northvolt was to meet several of its lenders to discuss the company’s future. Among them were several commercial banks and the Swedish National Debt Office as well as the government’s Swedish export credit, SEK.

Last week reported DN that documents were obtained which reveal repeated telephone conferences and votes on the loans to Northvolt. The background must be that the company requested changes to the terms and conditions.

Northvolt did not want to comment on the meeting:

“We are still working on a financing round and can come back when it is ready and we have more information,” writes the company’s communications manager, Nathalie Bruno, in an email to Aftonbladet.

How much of the money from the lenders was paid out is unclear. Both SEK, with its loan of 240 million dollars, and the National Debt Office, with its loans of 1.5 billion dollars, state that none of their loans have been paid.

Labor market minister Mats Persson (L) was on site in Skellefteå during the day to see how the work to pass on those who have been notified looks like.

– So far we do not know which individuals will lose their jobs. But it’s all about preparation. This is a place where companies are crying out for competent employees. And then it’s about guiding people to the available jobs, he tells Aftonbladet.

The focus now is to retain the skills that have come via labor immigration. According to Mats Persson, it is important for the region and Sweden.

The Minister: Does not rule out reviewing the law

For non-European workers affected by the notice, it is necessary to find a new job within three months with a salary of at least SEK 28,000 a month. Otherwise, they must leave the country.

However, Mats Persson describes the conditions for them to find new jobs as good. But the important thing now is not to lose that competence.

If you are afraid of losing competence. Isn’t there reason to review the rules for labor immigration then?

– I do not rule it out. But it should be remembered that Indian engineers have high salaries and are not affected by the salary level rules. Here, it’s about being able to direct individuals to companies that are crying out for competence, he says.

Do you have any criticism of how Northvolt handled the notification?

– They work according to the laws and regulations we have in Sweden. It is important that all companies act responsibly and take responsibility for their employees.