From Behind the Money: Why Northvolt Failed to Become Europe’s Battery Champion
Slate Money
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Northvolt: Ambitions and Challenges in Europe's Battery Industry
This chapter examines Northvolt, a Swedish startup that aimed to lead Europe's battery manufacturing sector but ultimately faced bankruptcy amid fierce competition from Asian giants. It highlights the significant hurdles in establishing a local battery supply chain for electric vehicles and the importance of the automotive industry to the European economy. The narrative captures Northvolt's journey from ambition to the challenges of mass production and securing financial support to meet the demands of major automotive partners.
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