Northvolt struggled to scale up production at its Skellefteå factory, which critics noted was inconveniently located in Sweden’s far north (Photo: Wikimedia Commons)

Northvolt’s bankruptcy ends Europe’s battery dream

Green Economy

by Wester van Gaal, Amsterdam,

Northvolt, once hailed as Europe’s homegrown battery champion, has officially gone bankrupt.

Despite “exhaustive efforts,” the firm was “unable to secure the necessary financial conditions to continue in its current form,” it said in a statement on Wednesday (12 March).

Northvolt filed ...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here

Green Economy

Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

EU competition plan banks on deregulation and private capital

EU investment bank slammed for lending to mega corporations

Is EU industrial policy hurting the internal market?

Why a Chinese car battery plant in Hungary is not a good idea

Northvolt struggled to scale up production at its Skellefteå factory, which critics noted was inconveniently located in Sweden’s far north (Photo: Wikimedia Commons)