Northvolt’s bankruptcy trustee has received an indicative bid from a foreign party for the company’s Swedish operations, public broadcaster Sveriges Radio reported on Tuesday, as talks continue following one of Sweden’s largest corporate collapses.
“We now have an indicative offer on the table and hope for more indicative bids,” bankruptcy trustee Mikael Kubu told Sveriges Radio. “We expect to receive another indicative offer during the day,” he added.
The current bid reportedly covers Northvolt’s battery cell factory in Skellefteå in northern Sweden, along with its research and development center located in Västerås, west of Stockholm.
Northvolt filed for bankruptcy in March, marking a significant setback for Europe’s ambitions to build a domestic battery supply chain capable of rivaling dominant Chinese manufacturers. The trustee said in May that operations at the Skellefteå plant were expected to wind down by the end of June, although negotiations with potential buyers were still ongoing.
The identity of the bidding party has not been disclosed, and the trustee has not confirmed whether any definitive offers have been made.