Northvolt to wind down battery making operation in Sweden by end June
STOCKHOLM, May 22 (Reuters) - Swedish automotive battery maker Northvolt, which declared bankruptcy in March, plans to wind down its remaining battery cell production in the Nordic country by the end of June, its trustee said on Thursday.
While the search for a buyer of the business continued, there was no realistic prospect for a purchaser to assume control in the near term, bankruptcy trustee Mikael Kubu said in a statement.
"A gradual wind-down of battery cell production in Northvolt Ett will be initiated, with the objective of ceasing production by 30 June," Kubu said, referring to the name of the company's plant in the Swedish town of Skelleftea.
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