Media: Northvolt in financial trouble

Investor backing for the Swedish battery facility has not been as large as the company had hoped. Even though major players such as Vestas and ABB have invested, Northvolt is still short several hundred million Danish kroner. Northvolt says that plans have not been impacted.

Photo: PR Northvolt

With the headline that the Northvolt storage dream has not quite made it, Swedish media Dagens Industri reported that the large storage project has been impacted by a lack of investor interest, so that the expected funding amount has not been collected.

The former logistics exec Peter Carlsson is behind the project and company Northvolt. The plan for the company is to establish a huge battery facility together with a test center in Sweden. But according to the Swedish media, the company has once again hit a wall when it comes to financing.

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