The German car manufacturer BMW does not want to invest more in the crisis-stricken Swedish battery manufacturer Northvolt AB, reports the news agency Bloomberg with reference to a source.
Northvolt is in an acute liquidity crisis and has notified 1,600 employees of termination and has also paused major investments since the funds are not sufficient.
BMW, which is one of Northvolt's ten largest owners with 2.8 percent of the shares, recently also withdrew an order worth over 2 billion euros to Northvolt.
BMW has not officially confirmed the information and from Northvolt, the message is that the work of securing financing continues.
Northvolt's largest owner, Volkswagen (VW), with 21 percent of the shares, is also in a tight spot and has warned of closures of several European factories. VW has recently stated that it supports Northvolt in its ambition to invest in increased production, but has not given any promises of capital injections or loans.
