Obviously two major factors lie behind this bankruptcy:
The lack of demand for EVs in Europe
The impossibility of competing profitably with batteries made in China
There is no prospect of either of these two challenges being...
Overall, nearly $14 billion was raised to fund or acquire startups in the battery storage, smart grid and energy efficiency sectors, according to Mercom.
Northvolt, the Swedish battery manufacturer which raised $1 billion in financing from investors led by Goldman Sachs and Volkswagen back in 2019, has signed a massive $14 billion battery order with VW for the next 10 years...
Tesla is attempting to shake up the car and energy industries with their battery-producing Gigafactory - and two past employees hope to bring the revolution to Europe...
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