Northvolt asks shareholders for $1.3 billion for next two years, sources say

Quick Summary:

STOCKHOLM/BERLIN/FRANKFURT : Northvolt asked more than 100 shareholders at a meeting this month to provide $1.29 billion over the next two years to help restore the bankrupt Swedish battery maker's business, two sources familiar with the matter told Reuters.

A third person familiar with the situation said Northvolt would only exhaust its cash towards the end of February.

Northvolt's shareholders include Goldman Sachs and BMW as well as customers Volkswagen and Scania.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: SingaporeJapanSouth KoreaSweden

Topics: Shareholders Request Asks Told Investors Company Sources Northvolt Battery Bankruptcy Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-29 @ 00:48:05 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 518 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 25585654

View Article Analysis

About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 54 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 55 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

Frequently Asked Questions