💨 Abstract

Swedish battery maker Northvolt is seeking about 200 million euros in short-term funding to stabilize its finances. This comes as the company has been making significant progress in its efforts to raise cash. The funding may come from a mix of pre-orders from customers for batteries and loans from shareholders, customers, and lenders. A verbal agreement for 150 million euros has been reached, but a final deal is yet to be agreed.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖