Northvolt is in talks with investors and lenders to secure about 200 million euros ($218 million) in funding, three sources familiar with the matter said, as the cash-strapped Swedish battery maker seeks to stabilise its short-term finances.

Struggling Swedish battery maker Northvolt AB met with multiple stakeholders on Monday as it seeks €200 million ($219 million) in fresh funds, according to people familiar with the matter.

Northvolt: The talks have been taking place this week, one of the sources said, adding that the company still aims to raise a larger amount of capital for the long-term. The sources declined to be identified because the matter is confidential.