EV battery maker Northvolt goes bankrupt

Northvolt, a Swedish maker of lithium-ion batteries that once was valued by venture capitalists at nearly $12 billion, has filed for bankruptcy. Why it matters This is a massive blow to Europe's EV manufacturing goals, as Northvolt was viewed as the best homegrown chance for reducing reliance on China. By the numbers: Northvolt had raised over $6 billion in equity funding since 2017, from a large investor group that included Goldman Sachs,...