<ul><li>Germany will assume more than €600 million ($629 million) of debt that its development bank had extended to Northvolt for the construction of a battery plant in the country.</li><li>The federal government will reimburse lender KfW for the value of a convertible bond and related costs, although the total losses are yet to be determined.</li><li>Northvolt, Europe's battery start-up, filed for Chapter 11 bankruptcy last month after failing to secure short-term funding and facing production challenges.</li><li>The company needs to raise between $1 billion and $1.2 billion to restore its business and compete against Asian battery manufacturers.</li></ul>

Germany Shoulders €600 Million Of Northvolt Debt

Discover more