morekaos
Well-known member
This transition is going swimmingly well…wouldn’t you agree?...
Leading EV-Battery Producer Considers Bankruptcy as Crisis Deepens
Northvolt, a Swedish company once seen as a cornerstone of Europe’s battery production efforts, is in crisis.
Reports indicate the company is evaluating bankruptcy options, including filing for Chapter 11 protection under U.S. law. This would allow Northvolt to restructure its debts while continuing operations.
The company faces a funding gap of approximately $920 million USD, according to Boosted.
Efforts to secure new capital have reportedly stalled, leaving the firm’s future uncertain.
According to Financial Times, some investors have already written off their stakes in the company, signaling a lack of confidence in its recovery.
Leading EV-Battery Producer Considers Bankruptcy as Crisis Deepens
The Federal EV Tax Credit Will Be Eliminated By Trump Administration
President-elect Donald Trump's transition team is reportedly planning to eliminate the $7,500 federal tax credit for electric vehicle purchases as part of a larger tax reform effort.
The most recent version of the credit was introduced as part of President Joe Biden's Inflation Reduction Act to encourage EV adoption and is now in the crosshairs of an energy-focused policy group, Reuters reports. The group is headed by billionaire oilman Harold Hamm and North Dakota Governor Doug Burgum.
Ending the tax credit will significantly impact already slow electric vehicle uptake.
The Federal EV Tax Credit Will Be Eliminated By Trump Administration
Leading EV-Battery Producer Considers Bankruptcy as Crisis Deepens
Northvolt, a Swedish company once seen as a cornerstone of Europe’s battery production efforts, is in crisis.
Reports indicate the company is evaluating bankruptcy options, including filing for Chapter 11 protection under U.S. law. This would allow Northvolt to restructure its debts while continuing operations.
The company faces a funding gap of approximately $920 million USD, according to Boosted.
Efforts to secure new capital have reportedly stalled, leaving the firm’s future uncertain.
According to Financial Times, some investors have already written off their stakes in the company, signaling a lack of confidence in its recovery.
Leading EV-Battery Producer Considers Bankruptcy as Crisis Deepens
The Federal EV Tax Credit Will Be Eliminated By Trump Administration
President-elect Donald Trump's transition team is reportedly planning to eliminate the $7,500 federal tax credit for electric vehicle purchases as part of a larger tax reform effort.
The most recent version of the credit was introduced as part of President Joe Biden's Inflation Reduction Act to encourage EV adoption and is now in the crosshairs of an energy-focused policy group, Reuters reports. The group is headed by billionaire oilman Harold Hamm and North Dakota Governor Doug Burgum.
Ending the tax credit will significantly impact already slow electric vehicle uptake.
The Federal EV Tax Credit Will Be Eliminated By Trump Administration