Northvolt AB, a battery manufacturer based in Sweden, is currently in the process of raising more than 10 billion kronor (approximately $920 million) to secure its financial future.

The CEO, Peter Carlsson, recently announced the company's need for long-term capital during a seminar in Stockholm, emphasizing the urgency of the situation as they aim to sustain operations beyond the immediate term.

Discussions are currently underway with both existing shareholders and potential new investors to meet this significant funding requirement. This move highlights the ongoing challenges faced by Northvolt AB in the competitive battery market, as the company strives to strengthen its financial position and continue its growth trajectory.