Battery unicorn Northvolt files for bankruptcy, upending Europe’s industrial plan

Quick Summary:

Northvolt, which had soared for years on the back of strong fundraising and a string of announcements about new facilities, has stumbled of late.

For one, Volkswagen owns part of the company, and it has placed a big bet on EVs, for which it’ll need millions of cells.

Making lithium-ion cells is fiendishly difficult, requiring deep knowledge of chemistry, production equipment, and quality improvement.

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Article Details

Author / Journalist: Tim De Chant

Category: StartupsBusiness

Markets: United StatesChina

Topics: Transportation Battery manufacturing Startups Bankruptcy Chapter 11 Climate Lithium ion batteries Northvolt

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 19:03:06 (19 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 456 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23742961

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