Following Northvolt’s bankruptcy, efforts have continued behind the scenes to salvage parts of the company. On May 22, bankruptcy administrator Mikael Kubu confirmed that negotiations are under way with several interested parties – but progress varies depending on the part of the business.
As previously reported, parts of Northvolt Systems have already been sold. The future of Northvolt Ett in Skellefteå, however, remains uncertain.
Kubu told reporters on May 22 that while due diligence is ongoing, the estate sees no realistic prospect of a buyer stepping in to restart production any time soon. The plan now is to gradually wind down battery cell production in Skellefteå, with the aim of shutting down entirely by 30 June.
Meanwhile, new details suggest truckmaker Scania – which has already taken over Northvolt’s industrial division – is also looking at the company’s R&D hub in Västerås.
In an interview with the Financial Times, Scania CEO Christian Levin said the company is talking with other investors – including the Swedish government and the European Commission – about forming a consortium to take over the Västerås site, known as Northvolt Labs.
– We’re trying to form a consortium that could co-finance the deal, but we can’t do it on our own. It’s simply too much even for a large company like us,” he told the FT.
Northvolt has invested over 750 million dollars in the Västerås facility, which has been central to its tech and product development.
While silence looms over the production lines in Skellefteå, parts of the company’s technical expertise may yet be saved – if the right players come forward.
Speaking to SVT on Thursday, Kubu declined to name those involved.
– We never comment on who may be interested in acquiring a business from a bankruptcy estate, he said