Once seen as Europe’s top battery hope, Northvolt is now running out of road. The bankrupt Swedish startup may lose its last customer — and that could end everything.
Northvolt has kept production going at its Skellefteå plant while it searches for a buyer. But that fragile lifeline may snap soon. According to Swedish Radio Ekot, Scania plans to stop buying batteries from Northvolt. If true, this would shut down the company’s final source of revenue.
Scania, the Swedish truck giant, has stayed loyal longer than anyone else. Even after Northvolt filed for bankruptcy in Sweden and Chapter 11 in the U.S., Scania continued to buy batteries and even paid higher prices than before. The company also invested another $100 million to help keep Northvolt afloat.
But sources told Ekot the financial risk has become too much. Scania is now preparing to walk away.
Hundreds of Jobs Hang in the Balance
Roughly 900 workers still remain at the Skellefteå factory. Their jobs are directly tied to battery production. If Scania pulls out, operations could grind to a halt.
In fact, all of Northvolt’s other customers have already left. According to documents reviewed by Ekot, Scania is the final buyer keeping things alive. That may not last much longer. Staff at the plant have reportedly been called to a company-wide meeting this Thursday.
Earlier this year, Scania also bought Northvolt’s industrial battery unit. The division, called Systems Industrial, develops heavy-duty battery systems and employs 300 people across Stockholm and Gdańsk. It was sold in February as Northvolt scrambled for cash.
From Poster Child to Cautionary Tale
Northvolt was once hailed as a climate tech hero. Backed by billions in funding, it promised to help Europe power the electric future. But its finances never matched its hype.
The bankruptcy trustee has made deep cuts and is trying to sell the business. Still, without Scania’s support, there’s little left to salvage.
Production is currently planned to run through the end of May. After that, a new decision is expected. But if Scania pulls the plug, Northvolt’s story may finally come to an end.
