There just isn't the demand, despite all the things the globalists can do. End of the road for EV battery maker that raised $15 billion from investors including Goldman Sachs and BlackRock
Northvolt was started in Sweden by two ex-Tesla executives to make Europe more independent from China for EV batteries. There is a problem, however. Europeans don't want EVs or the batteries that go into them.
Northvolt said it faced multiple challenges in recent months that undermined its financial position, including growing capital costs and geopolitical instability, resulting in supply chain disruptions and fluctuating demand.
Markets work. That is what makes Progressives so angry. They want to control things that they cannot control.
[The company] was founded in 2016 by Peter Carlsson and Paolo Cerruti and had raised more than $15 billion from investors including Volkswagen, Goldman Sachs, BlackRock, Baillie Gifford, and Spotify cofounder Daniel Ek.
There is a lot more detail in the article. (Hat tip to MGUY Australia.)
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