Unlock free Digest editor
Roula Khalaf, editor of FT, chooses her favorite story in this weekly newsletter.
The Northvolt battery manufacturer has submitted a bankruptcy request in Sweden, which limited the fall of a company that was once considered the best hope in the European hope that it would compete in the cinema industry.
Swedish industrial start-up, supported by Volkswagen, Goldman Sachs and Blackkkk, said on Wednesday that he was unable to ensure financing to continue, and the guardian appointed in court will now sell the property.
“This is an incredibly difficult day for all in North. We started to build something revolutionary – to initiate real changes in the battery, EV -II to the wider European industry and accelerate the transition to the green and sustainable future, “said Tom Johnstone, a temporary Northvolt chair.
It marks the shameful end of the company that took about $ 15 billion from investors and government in technology key to electric vehicles in which Europe plays compensation for Asian countries like China, Japan and South Korea.
This is a development story
