Battery industry|The owners decided on Wednesday in Stockholm that they want to continue the operations and restructuring program of Northvolt, which manufactures car batteries.
The summary is made by artificial intelligence and checked by a human.
The owners of the battery company Northvolt voted to continue the company’s operations.
The company filed for liquidation and is trying to avoid bankruptcy by cutting debts.
Owners including Volkswagen and Goldman Sachs met in Stockholm on Wednesday.
More than $60 billion has been invested in Northvolt since 2016.
Battery company Northvolt’s owners announced on Wednesday that they had voted to keep the battery company operating while the company works to find a financing solution to solve its financial problems, Reuters news agency reported.
Nortvolt has filed for liquidation and is trying to avoid bankruptcy with a debt reduction program.
Ownerswhich include, for example, the German car giant Volkswagen and the US investment bank Goldman Sachs, met on Wednesday in Stockholm to vote on whether the company should file for bankruptcy or whether the debt restructuring in accordance with the Chapter 11 process started in the United States should continue.
According to the company’s announcement after the general meeting, the positive decision to continue the restructuring procedure indicates that the owners are trying to maximize both their own interest and the utilization of the value in the company.
According to Reuters, more than 60 billion dollars, or more than 58 billion euros, have been invested in Northvolt since 2016.
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