Volvo Won't Pay for Novo Stake
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Gothenburg battery cell factoryReuters
•Technology
Technology
Volvo Cars will not pay Northvolt for battery joint venture stake, it says

79% Informative
Volvo Cars will not pay Northvolt any money for its 50% stake in their battery venture Novo Energy .
Northvolt filed for bankruptcy protection in November last year .
Volvo Cars agreed with Northvolt to take over its stake in the venture, which included a planned Gothenburg battery cell factory.
Volvo has said a new investor would be needed for that to happen.
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