Northvolt Ett Expansion AB—a subsidiary of Northvolt AB responsible for managing the Ett expansion project—filed for bankruptcy at the District Court of Stockholm due to its financial situation. This decision comes after the suspension of the Ett expansion project in September 2024, part of Northvolt Group’s rescoping of operations in Sweden.
Work on the expansion project had already been suspended, and Northvolt is engaging with suppliers and contractors for continued cooperation within its ongoing operations. Moving forward, all contacts with Ett Expansion AB will be managed by the appointed bankruptcy trustee.
It’s important to note that Ett Expansion AB is one of over 20 entities within the Northvolt Group, and the bankruptcy filing does not affect any other legal entities in the organization. The Northvolt Group is now focusing its resources on accelerating production in large-scale cell manufacturing within the fully-built first phase of Northvolt Ett, aiming to deliver on commitments to its automotive customers.
For additional information on Northvolt’s strategic review and revised scope of operations, please refer to the earlier press release titled “Northvolt Outlines Revised Scope of Operations in Sweden” dated September 23, 2024.
Source: Northvolt
