Reported about 14 hours ago
The financial breakdown of Northvolt, Europe's leading electric vehicle battery manufacturer, raises critical concerns about the continent's plans for an independent battery industry as it struggles to compete with Chinese companies. After filing for bankruptcy protection, Northvolt's inability to meet production targets and fulfill contracts has cast doubt on Europe's ambitions, prompting calls for better investment strategies to support local startups in the face of China's overwhelming lead in battery production.
Source: YAHOO