Northvolt has been in talks with investors and lenders in recent weeks to secure short-term funding, three sources familiar with the matter said, as the board sought to stabilize the company’s finances
Swedish battery maker Northvolt is making significant progress towards raising a new financing package, it told Reuters on Monday.
The group has been in talks with investors and lenders in recent weeks to secure short-term funding, three sources familiar with the matter told Reuters on Oct. 11, as the board sought to stabilize the company’s finances. It has already started collecting signatures for a financing package potentially larger than $300-million, that could be announced before the end of the month and give the battery maker enough funds until next year, a person with direct knowledge of the deal said.
The person was speaking on condition of anonymity because they were not authorized to speak publicly. “We have made significant progress towards securing a finance solution for Northvolt and we continue to have constructive dialogs with key stakeholders, including customers, suppliers, shareholders, and lenders,” a spokesperson for Northvolt told Reuters.
Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Swedish battery maker Northvolt says subsidiary filed for bankruptcy after project pulledNorthvolt said on Tuesday that ‘all contacts with Ett Expansion AB will from now on be managed by the bankruptcy trustee’
Read more »
Swedish battery maker Northvolt in talks for about €200-million in short-term funding, sources sayOn Friday, Northvolt repeated a statement from Sept. 24 that said it had made significant progress in recent weeks in its effort to raise cash
Read more »
Northvolt co-founder, Swedish funds reportedly willing to inject cash into struggling battery makerNorthvolt is in talks with investors and lenders to secure short-term funding of some €200-million, three people familiar with the matter told Reuters
Read more »
Head of battery maker Northvolt’s main plant stepping downThe shakeup is the latest reorganization of the cash-strapped group as it seeks to overcome persistent production problems
Read more »
Northvolt to axe 1,600 jobs as Europe's EV hopes stallNorthvolt plans to cut 1,600 jobs at its base in Sweden, or about a fifth of its global workforce, as Europe's biggest hope in the electric vehicle battery market struggles with production problems, sluggish demand and competition from China.
Read more »
Northvolt announces 1,600 layoffs in Sweden, insists Quebec EV battery plant won't be affectedAn aerial view of the land being developed by Northvolt, the new EV battery plant being built by the Swedish manufacturer in Saint-Basile-le-Grand, Que., southeast of Montreal.
Read more »