Investors rally behind Northvolt as Goldman Sachs plots rescue

Bloomberg reports that Goldman Sachs, the second-largest shareholder in struggling Northvolt, is exploring the possibility of rescuing the battery maker alongside other investors.

Northvolt

Northvolt

Foto: Angelika Doverstål

Sverige2024-10-17 13:00

UPDATE: FRI, 10:10

Now Bloomberg reports that Northvolt is negotiating a potential rescue package worth approximately 3.2 billion kronor.

This rescue package involves a combination of investors, lenders, and customers. Among them are investment bank Goldman Sachs and major Northvolt investor Harald Mix.

According to anonymous sources, the negotiations are in the final stages, but there remains a risk that the talks may fail.

A successful rescue package would provide Northvolt with time to stabilize its production and secure long-term financing.

Northvolt has not commented on these reports.

UPDATE: THURS, 11:15

Bloomberg reports that Goldman Sachs, the second-largest shareholder in crisis-stricken Northvolt, is exploring the possibility of rescuing the battery maker alongside other investors. 

According to anonymous sources, Goldman Sachs is actively working to address Northvolt's liquidity crisis.

A spokesperson for both Goldman Sachs and Northvolt declined to comment on Bloomberg's report.

SVT Västerbotten reports that pension giant AMF and state AP funds are considering investing further to support Northvolt. Even founder Harald Mix has indicated his willingness to provide additional funding. '

– I'm committed to the company, Mix told TT during a conference on fossil-free investments in Sweden on Wednesday.