Northvolt Told $1.5 Billion Loan Guarantee Is Out of Reach.

Sweden's National Debt Office has stated that it will not activate $1.5 billion in credit guarantees for Northvolt AB, as the guarantees were tied to a halted expansion of the battery manufacturer's main factory. Northvolt has paused the build-out at Skelleftea and put the project management unit into bankruptcy as it faces a cash crunch. The company plans to focus on raising production at its main plant near the Arctic Circle, but it is in need of financing to continue operations. The National Debt Office is open to new requests that meet Sweden's green-loan regulations, but Northvolt may face obstacles due to its financial difficulties. [Extracted from the article]