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Northvolt Bankruptcy: Europe's Chances Of Beating China In The EV Race Just Got Slimmer
16 Mar 2025 | Abstracted from CarBuzz
"...Swedish battery company owned in part by Volkswagen and Goldman Sachs has filed for bankruptcy in its own country...deathblow for the battery maker, established in 2016, following its American interest in filing for bankruptcy in November last year."
"The big hope was that Nothvolt could go up against Chinese bands like CATL and BYD...Plans to build EV batteries in Europe have been bogged down by bureaucratic hurdles, production problems and slower EV demand than expected."
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