Northvolt's November 2024 Chapter 11 bankruptcy (the largest in modern Swedish industrial history) left ~4,000 workers affected. Of the 3,000 Skellefteå factory employees, 1,100+ were foreign nationals on work visas who faced deportation unless finding new employers within 3 months. The European Parliament approved €8.5M in EU aid for ~5,800 dismissed workers. The company had only $30M cash remaining—enough for 7 days of operations—while owing $5.8B in debt.
#65 on the board
F
Northvolt
CompanyMajor issues17/100low confidence · 2 issues
3 opposed
European battery manufacturer.
The receipts (3)
Three Northvolt workers died at home within six months after shifts at the Skellefteå gigafactory in 2024 (ages 19, 33, and 59). A fourth worker drowned. Swedish police investigated but found no crime or toxic exposure link. Prior incidents include two 2023 workplace deaths: a technician killed in a dust explosion and a crane accident fatality. Dagens Nyheter investigation documented 26 severe injuries since 2019 and widespread safety concerns, particularly among migrant subcontractors.