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Reuters

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Technology

Volvo Cars will not pay Northvolt for battery joint venture stake, it says

Reuters
Summary
Nutrition label

79% Informative

Volvo Cars will not pay Northvolt any money for its 50% stake in their battery venture Novo Energy .

Northvolt filed for bankruptcy protection in November last year .

Volvo Cars agreed with Northvolt to take over its stake in the venture, which included a planned Gothenburg battery cell factory.

Volvo has said a new investor would be needed for that to happen.

VR Score

89

Informative language

93

Neutral language

89

Article tone

semi-formal

Language

English

Language complexity

47

Offensive language

not offensive

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not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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