Northvolt Filing For Bankruptcy: A Turning Point In Europe’s Battery Manufacturing Ambitions

by News Editor

March 13, 2025

In a significant development for European industry, Northvolt, the prominent battery cell manufacturer, has filed for bankruptcy in Sweden. This marks one of the most consequential corporate failures in the country, effectively ending Europe’s ambitious attempt to rival Chinese dominance in battery production.

Major Developments

The Swedish company raised over $10 billion in equity, debt, and public financing since its inception in 2016, with major shareholders like Volkswagen holding a 21% stake.
Due to dwindling finances, Northvolt sought Chapter 11 protection in the U.S. last November while attempting to resolve operational challenges at its primary facility in northern Sweden.
With over $8 billion in debt reported at the end of January, the bankruptcy could lead to significant shifts in the industry.
Northvolt had reneged on a key $2 billion battery supply agreement with BMW last June, escalating financial woes.
The court-appointed trustee will oversee the liquidation process, focusing on asset sales and liability settlements.

Key Insights

“This was a decision taken with a heavy heart,” remarked Northvolt Chairman Tom Johnson, recognizing the risk to 5,000 jobs. “Despite exhaustive measures, this path is the only feasible forward for Northvolt and its stakeholders.”
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Ongoing International Concerns

Operations in North America and Germany remain unaffected, and German officials, including Economy Minister Robert Habeck, maintain hope for an external investor to salvage the German plant. Negotiations persist, holding open the possibility of a turnaround.

Key stakeholders like Porsche and Volkswagen are exploring alternatives as they grapple with the long-term challenges in securing battery supplies from European sources. This situation underscores the critical need for robust, homegrown battery production capabilities in Europe.

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Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

by THEFUTURE.TEAM

November 22, 2025

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

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Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

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