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Swedish battery firmCNBC
•Technology
Technology
71% Informative
Northvolt said it submitted the bankruptcy filing after an "exhaustive effort to explore all available means to secure a viable financial and operational future for the company" A Swedish court-appointed trustee will oversee the bankruptcy process, including the sale of the business and its assets and settlement of outstanding obligations.
Northvolt 's collapse into insolvency represents a major blow to Europe 's ambition to become self-sufficient.
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