A major EV battery supplier files for bankruptcy
The company's list of clients includes BMW, Audi, Porsche, Volvo, and Polestar.
In a big blow to the volatile and cutthroat electric vehicle industry, Swedish EV battery manufacturer Northvolt will be split up and sold after filing for bankruptcy in its native Sweden.
According to a statement, the company's filing comes after "an exhaustive effort to explore all available means to secure a viable financial and operational future" as it failed to weather certain conditions affecting its business.
