Stockholm | Battery cell maker Northvolt has filed for bankruptcy in Sweden, the company said on Wednesday, marking one of the country’s largest corporate failures and effectively ending Europe’s best hope of developing a rival to challenge China.
The Swedish company has received more than $US10 billion ($15 billion) in equity, debt and public financing since its 2016 inception, and its biggest owners include Volkswagen with a 21 per cent stake, and Goldman Sachs with 19 per cent.
