Northvolt AB, a battery manufacturer based in Sweden, is currently in a critical financial situation and urgently needs emergency funding.
The company's previous financing plan has collapsed, leaving them with limited options to secure the necessary funds.
Last month, a proposed $300 million funding package that was close to being finalized is no longer available, putting Northvolt in a precarious position.
This situation highlights the challenges faced by firms in the rapidly evolving battery market.