Porsche 718 EV may be delayed due to Northvolt bankruptcy

Swedish battery maker Northvolt filed for Chapter 11 bankruptcy protection in the United States last month, a major setback for Europe’s efforts to reduce its reliance on Chinese battery suppliers. The move is intended to restructure debt and secure new funding. While the process is expected to be completed early next year, the company said it will be business as usual for the time being.

Behind the scenes, however, Handelsblatt reports that several carmakers may have to postpone future models due to problems with Northvolt. The upcoming all-electric Porsche 718 replacement is rumored to be one of the casualties, and may miss out on its planned launch late next year.

More: Porsche 718 Boxster EV revealed with more details as it nears production

When reached for comment, the spokesperson declined to confirm or deny the rumor. Instead, they told the publication they couldn’t comment on supplier issues.

Although Porsche is tight-lipped, the company appears to be relying heavily on Northvolt batteries and their high energy density. This is important for sports cars as they can save weight by using smaller battery packs.

Interestingly, the electric 718 appears to be facing other problems. In particular, an unknown “component in the drivetrain” is said to be causing problems, and that alone could also cause delays.

Porsche isn’t the only company that could be affected, Audi also has a deal with Northvolt. Their batteries will be used to power models based on the PPE platform, including the A6 e-tron.

However, Audi also purchases batteries from CATL and LG. This means that the situation is not critical and the A6 e-tron was not even planned to use Northvolt batteries until later. This is fortunate because it means the company may be able to enter into a new contract with another supplier if needed.

Much of the blame has been placed on Northvolt founder Peter Carlsson, who “stepped down” as CEO following the bankruptcy. Rumor has it that he brought “the worst aspects of Tesla’s corporate culture” to his new job, which resulted in “unrealistic timelines” and “overly ambitious goals.” This led to problems and BMW pulled out of a multi-billion dollar contract.

How everything will change remains to be seen, but European automakers are understandably nervous.