Rather than being an independent green innovator, Northvolt uses old Chinese technology, with 20-year-old equipment that was already out of date when put in place.
Northvolt, the Swedish battery company supposed to put fire to the feet of American and Chinese competition in battery making, is running out of steam fast, losing money and investors at speed.
The battery factory is viewed as a crucial component of the European Green Deal and the push for greater autonomy in energy and electric vehicle production. It received a lot of EU money to achieve this.
But rather than being an independent green innovator, Northvolt uses old Chinese technology, with 20-year-old equipment that was already out of date when put in place.