Swedish battery manufacturer Northvolt apparently is in talks with investors and lenders to secure short-term financing of around 200 million euros. This is according to a report by the Reuters news agency, which has cited anonymous sources. The battery manufacturer is currently struggling with financial difficulties. In September 2024, Northvolt announced that it would have to cut jobs and to restructure due to production problems, weak demand, and competition from China.
Long-term financing plans remain unclear
According to unconfirmed insider information, Northvolt is planning a major capital increase in the long term. Meanwhile, it is unclear how long the short-term financing currently under discussion could keep the company in operation. A mixture of customer pre-orders and new loans is being discussed as a possible source of financing, with a verbal agreement for 150 million euros already in place. Insiders claim Northvolt shareholder Scania is leading the talks while BMW, which had cancelled a two-billion US dollar order from Northvolt earlier in 2024, is not involved in the current financing round.
