In the plans Lars Carlström for Italy they were very ambitious. The goal of Italvolt was to create in our country one of battery factories largest in Europe. A project that can now be considered obsolete, given that the company is formally in crisis. According to Milano Finanza, the company has been accepted.”to a unified procedure for resolving the crisis in order to present a resolution plan“.
Italvolt reportedly had debt of €5.5 million at the end of 2022, with assets of almost €10 million. However, in March last year the financial situation showed”unpaid losses of more than 3.8 million euros, covered by capital reduction without subsequent planned recapitalization of 20 million“.
The company’s difficulties were compounded when its audit committee filed a petition for judicial winding up and when the company also filed a lawsuit against Italvolt. creditor Pininfarina who, as we remember, designed the plant.
The plant was originally planned to be built on the former Olivetti site in Scarmagno. However, due to a number of technical problems, including an inadequate electrical grid in the area, it was decided to focus on another location.
Therefore, with the official opening of the crisis in the company, Lars Carlstrom asked for a layout procedure to I hope we can find a way move forward with your project. In fact, in the documents filed by Italvolt’s lawyer we can read:
The will of the majority shareholder to continue operations is firm as the specific opportunities and expectations for new financing remain unchanged as there are strong signals from investors confirming their full desire to complete the gigafactory project as required by the energy market today. .
According to the company, the current crisis is due to the fact that the initial stage of the project was extremely delayed due to a number of bureaucratic difficulties and other factors.
A period that was extremely protracted due to the well-known bureaucratic difficulties of the Italian system, due to environmental and environmental restrictions, due to indecisive discussions with local institutions that delayed the willingness of investors to honor the promises made and provide the necessary materials.
Source: HD Motori
Ashley Fitzgerald is an accomplished journalist in the field of technology. She currently works as a writer at 24 news breaker. With a deep understanding of the latest technology developments, Ashley’s writing provides readers with insightful analysis and unique perspectives on the industry.