The bankruptcy of Northvolt, a once-promising battery manufacturer, signals deep challenges within Europe’s electric vehicle ambitions, revealing the fragility of the battery supply chain.
BMW's cancellation of a $2 billion contract highlighted the severe delays in Northvolt's production capabilities, pushing timelines beyond the viability of existing vehicle models.
High operational costs and significant delays plagued Northvolt's expansion, raising doubts about Europe’s bid for battery independence from China and casting shadows on the auto industry.
Despite Northvolt receiving substantial investments from both private and government sectors, its inability to scale operations effectively has led to a pivotal setback in Europe's electric vehicle strategy.
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