A division of Swedish battery manufacturer Northvolt has filed for restructuring in Germany, the company confirmed on Friday, following a report by German magazine Der Spiegel.
The entity involved is Northvolt Germany TopCo GmbH, according to a company spokesperson. The restructuring applies only to that unit, while construction continues at the company’s major battery plant project in Heide, northern Germany, under a separate corporate entity.
“The part of Northvolt responsible for the Heide site remains operational and construction is ongoing,” the spokesperson said.
Northvolt, once viewed as a cornerstone of Europe’s electric vehicle battery ambitions, filed for bankruptcy in Sweden in March. The collapse marked one of the largest corporate failures in the country and a significant setback to the continent’s efforts to compete with Asian battery producers.
Earlier this year, Germany’s then-Economy Minister Robert Habeck expressed optimism that new investors could be secured to support the Heide project, which is seen as strategically important for Germany’s energy transition and industrial competitiveness.
Northvolt had previously positioned the Heide plant as a key part of its European expansion strategy, aimed at supplying battery cells for electric vehicles and energy storage systems. The ongoing construction suggests efforts are still being made to salvage parts of the company’s operations despite the broader insolvency proceedings.