Volkswagen Reduces Northvolt Stake

This is a news story, published by Yahoo Finance, that relates primarily to Northvolt news.

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Swedish battery cells maker

Reuters

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Volkswagen has taken major writedown on Northvolt stake, sources say

Summary

Nutrition label

81% Informative

Several of Northvolt 's top shareholders have been cutting or reviewing the value of their holdings in the firm.

The writedowns were done throughout the current financial year , the people said.

At the end of 2023 , Volkswagen reported the book value of its shareholding in the Swedish firm at 693 million euros ( $726 million ), down nearly a quarter from a year earlier .

VR Score

Informative language

Neutral language

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formal

Language

English

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not offensive

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not hateful