MONTREAL — The Quebec government wants a judge to declare insolvent the North American branch of Swedish battery manufacturer Northvolt.
Quebec filed the court application in an attempt to recoup some of the province's losses on a failed electric-vehicle battery project.
The province says Northvolt Batteries North America owes more than $260 million on a government loan that allowed the company to buy land near Montreal to build a $7-billion battery plant.
The government wants to withdraw nearly $200 million from frozen accounts belonging to Northvolt to pay down the debt, and wants the court to authorize a process for the sale or repossession of the land.
Quebec Economy Minister Christine Fréchette announced Tuesday that the government was pulling the plug on the project.
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