Northvolt crisis may be make or break for Europe’s EV battery ambitions

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  • November 23, 2024 at 11:36 pm#293904
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      Europe’s electric car revolt claims its biggest scalp yet
      If battery maker Northvolt cannot be revived, the bloc will be perilously exposed to China

      STOCKHOLM/GDANSK (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals.

      Europe’s biggest hope for an electric vehicle battery champion filed for U.S. Chapter 11 bankruptcy protection on Thursday after talks with investors and creditors including Volkswagen and Goldman Sachs for funding failed.

      https://uk.finance.yahoo.com/news/northvolt-crisis-may-break-europes-175620738.html

       

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