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Northvolt files for bankruptcy in Sweden
(www.ft.com)
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this post was submitted on 12 Mar 2025
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We have billions to save a failing automotive industry which ignored every call to start developing electric cars, but we let yet another renewable company fail...
Car companies are short-sighted in general. During COVID they had cancelled their semiconductor orders. And when during the end of 2020 the factories were telling them to place their orders. They didn't. Soon after all capacity was sold out for years and the industry had an enormous self-inflicted shortage of electronics.
Yeah, it’s unfortunate. Though because of the scandals and the deaths I don’t think any politician would want anything to do with a rescue operation of Northvolt.
I think what’s important now is for a European company (and not an overseas one) to pick up the pieces and continue the development. We badly need domestic European battery technology, but we also need it from someone who knows how to manage a company.