Northvolt was founded in 2017 by two former Tesla (TSLA -1.51%) executives. The Swedish company quickly became one of Europe's top battery makers for electric vehicles (EVs).
Northvolt was backed by several of Europe's biggest automakers and some of Wall Street's most notable names. They provided the initial funding to build out the company's manufacturing sites. It had grand plans to build more battery manufacturing plants and recycling facilities over the coming years.
Northvolt was hoping to tap the public markets for additional funding by completing an initial public offering (IPO), which could have been one of Europe's biggest IPOs in recent years. Many investors were getting charged up about its potential blockbuster IPO.
But it seems that Northvolt stock was not meant to be. In March of 2025, the company filed for bankruptcy in Sweden.
IPO
Is Northvolt publicly traded?
Northvolt isn't a publicly traded company since it filed for bankruptcy. Before that, it was still privately held and counted several well-known companies among its investors, including Goldman Sachs (GS +0.37%), Volkswagen (OTC:VWAPY), and BMW (OTC:BMWYY).
Alternatives to Northvolt
Investors won't be able to buy Northvolt stock since the company filed for bankruptcy. However, those interested in electric vehicle battery companies could consider buying shares of one of its publicly traded rivals to start capitalizing on that market opportunity now. Here are three options to consider.
Tesla
Northvolt's founders left Tesla to build an electric battery company that could challenge their dominant former employer. Tesla is a leader in the space, building batteries for EVs and energy storage (Powerwall). It's also a leading EV maker and solar panel maker.
Tesla is investing heavily in building additional battery manufacturing capacity in the U.S. and Europe. It's also investing in innovation to build better batteries at lower costs.
BYD
China's BYD (OTC:BYDDF) is one of the world's leading producers of rechargeable batteries. BYD is an integrated company that also manufactures and sells hybrid and battery-powered cars, buses, trucks, and monorails. The company also had a very notable investor: Warren Buffett. His company, Berkshire Hathaway (BRK.A -0.22%)(BRK.B -0.09%), invested in BYD for 17 years before selling its last shares in late 2025. Over that time, the investment grew more than 20 fold.
QuantumScape
QuantumScape (NYSE:QS) has worked to develop a better battery for more than a decade. It built a technology that makes batteries safer while charging faster and lasting longer than traditional lithium-ion batteries. The company started shipping its first prototype cells to customers at the end of 2022. It has since started developing its first commercial product, QSE-5.
How to buy stocks similar to Northvolt
Those who want to invest in one of these Northvolt alternatives can purchase shares in any brokerage account. Here's a step-by-step guide on how to invest in stocks.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
ETFs with exposure to Northvolt
Since Northvolt stock won't be available to investors, you can't passively invest in it through an exchange-traded fund (ETF).
However, people interested in investing in the EV battery space have a few lithium and battery technology ETFs they could consider buying. Two top options are:
- Global X Lithium & Battery Tech ETF (LIT +0.18%): The ETF invests in companies involved in mining and refining lithium and battery production. It held 41 stocks in late 2025, including Tesla. The fund has a 0.75% ETF expense ratio.
- Amplify Lithium & Battery Technology ETF (BATT -0.14%): The ETF holds companies that make money developing, producing, and using lithium battery technology. The fund held shares of 53 companies in late 2025, including Tesla, BYD, and BHP Group (BHP -0.57%). The ETF has a 0.59% expense ratio.
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