Volvo Cars will not pay Northvolt any money for its 50% stake in their battery venture Novo Energy that it had agreed to acquire, according to the automaker's quarterly report on Thursday.

Sweden's Northvolt has agreed to divest its Systems Industrial division, a key developer and manufacturer of battery systems ...

Northvolt said the sale of the unit, which employs around 300 people, is subject to regulatory clearances and the execution ...

The purchase amount has been negotiated as part of a larger settlement with Northvolt, taking many factors into account," a Volvo spokesperson told Reuters. Northvolt did not respond to a request ...

(Reuters) - (This Feb. 6 story has been corrected to say Volvo 'will pay Northvolt almost nothing,' not 'will not pay Northvolt,' in the headline and paragraph 1, and to say 'purchase price is ...

Before its Chapter 11 bankruptcy filing Northvolt was recognised as Europe's primary competitor to challenge Asian companies ...

Credit: Jeppe Gustafsson/Shutterstock. Swedish EV battery maker Northvolt has reached an agreement with Volvo Cars to sell its stake in their Swedish battery-making joint venture, Novo Energy.

(Reuters) - (This Feb. 6 story has been corrected to say Volvo 'will pay Northvolt almost nothing,' not 'will not pay Northvolt,' in the headline and paragraph 1, and to say 'purchase price is rounded ...

The sale of Northvolt Systems Industrial follows similar divestments to companies such as Norsk Hydro and Volvo Cars, as Northvolt aims to reduce costs and focus on its battery plant in northern ...