Swedish battery manufacturer Northvolt filed for Chapter 11 bankruptcy protection in the southern district of Texas yesterday. That’s bad news for the federal and Quebec governments, which have committed $2.7 billion in capital and a further $4.6 billion in future production subsidies to the financially strapped EV company. Quebec also took a $420-million equity stake it may soon regret. If, as expected, Northvolt does go belly up, Canada can kiss $3 billion goodbye. Read More
