Northvolt has declared bankruptcy in Sweden, but says its North American operations are solvent. The company is building a large battery factory on Montreal's South Shore.

STOCKHOLM–Swedish battery maker Northvolt filed for bankruptcy in Sweden after it failed to secure the financial backing needed to continue operating.A Swedish court-appointed trustee will now oversee the process,

STOCKHOLM (Reuters) - The bankruptcy of battery cell maker Northvolt, once the leader of Sweden's green industrial boom, is a huge blow to the country's north and particularly the small town of Skelleftea.