Volkswagen has taken major writedown on Northvolt stake, sources say
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Volkswagen has significantly written down its 21% stake in Northvolt, a Swedish battery cells maker that recently filed for bankruptcy protection in the US.
November 25, 2024 | 12:45 pm
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Volkswagen has written down its 21% stake in Northvolt after the latter filed for bankruptcy protection in the US.
The writedown indicates a loss in value of Volkswagen's investment in Northvolt, which could negatively impact VWAGY's stock price in the short term. The bankruptcy filing of Northvolt adds to the uncertainty and potential financial impact on Volkswagen.
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