Bankruptcy of battery companies

Which EV maker has filed for bankruptcy?

The most high-profile EV maker bankruptcy in recent months has been Fisker, maker of the Ocean SUV. It filed for Chapter 11 bankruptcy in June 2024, after initial order levels for its debut production model fell short of internal expectations.

Are EV startups going bankrupt?

While a big wave of EV startups have gone bankrupt in the years since the pandemic began, some didn't make it that far. Zhidou was one of China's earliest EV startups, being founded in 2006, and at one point it looked like it was destined for success.

Why did Northvolt file for bankruptcy?

Nov 21 (Reuters) - Northvolt, the Swedish maker of battery cells for electric vehicles, said on Thursday it has filed for Chapter 11 bankruptcy protection in the U.S., dealing a blow to Europe's hopes that its most developed battery player would reduce Western car makers' reliance on Chinese rivals.

Which companies have opted for Chapter 11 bankruptcy protection?

In recent years several Swedish companies have opted for Chapter 11 bankruptcy protection filings, such as Scandinavian airline SAS and debt collector Intrum, a process that allows management to retain control over the company and run operations.

Was it a mistake to compete with Chinese battery manufacturers?

Some people in the battery industry said it was a mistake to try to compete with Chinese manufacturers, given that they had a big head start. The Chinese government decided years ago to focus on electric vehicles and subsidized battery makers.

Could another battery maker be persuaded to take over a battery factory?

The hope is that another battery maker can be persuaded to take over the location. Stanley Reed has been writing from London for The Times since 2012 on energy, the environment and the Middle East. Before that he was London bureau chief for BusinessWeek magazine.