BusinessPostCorner.com
No Result
View All Result
Monday, July 7, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Sweden’s green industry hopes hit by Northvolt woes

January 3, 2025
in Business
Reading Time: 2 mins read
A A
0
Sweden’s green industry hopes hit by Northvolt woes
ShareShareShareShareShare

Many researchers and journalists tracking Northvolt’s downfall share the view that it was at least partly caused by a global dip in demand for electric vehicles (EVs).

In September Volvo abandoned its target to only produce EVs by 2030, arguing that “customers and markets are moving at different speeds”. Meanwhile China, the market leader in electric batteries, has been able to undercut Northvolt’s prices.

Missing production targets (a key factor in BMW pulling out of a €2bn deal in June), expanding too quickly, and the company’s leadership have also been widely cited as factors fuelling the crisis.

“To build batteries is a very complex process. It takes a lot of capital, it takes time, and they obviously just didn’t have the right personnel running the company,” argues Andreas Cervenka, a business author and economics commentator for Swedish daily Aftonbladet.

At Umeå university, Madeleine Eriksson, a geographer researching the impact of so-called “green industries” says Northvolt presented a “save the world mentality” that impressed investors, media and local politicians.

But this “now-or-never” approach, she argues, glossed over the fact it was a risk-taking start-up that “never finished attracting investment”.

Northvolt did not respond to multiple requests from the BBC to respond to comments about its downfall or future plans.

The firm has hired German Marcus Dangelmaier, from global electronics company TE Connectivity to run Northvolt’s operations in Skellefeå, from January, as it seeks to attract fresh investment.

Northvolt’s co-founder and CEO Peter Carlsson – a former Tesla executive – resigned in November.

Credit: Source link

ShareTweetSendPinShare
Previous Post

China’s central bank plans policy overhaul as pressure mounts on economy

Next Post

Sir Nick Clegg to leave Meta ahead of Trump’s return

Next Post
Sir Nick Clegg to leave Meta ahead of Trump’s return

Sir Nick Clegg to leave Meta ahead of Trump's return

Trump calls Musk’s new political party plan ‘ridiculous’

Trump calls Musk’s new political party plan ‘ridiculous’

July 7, 2025
Full EU-US trade deal ‘impossible’ before deadline, says Ursula von der Leyen

Full EU-US trade deal ‘impossible’ before deadline, says Ursula von der Leyen

July 3, 2025
40+ Fake Firefox Wallet Extensions Are Stealing Your Crypto, Koi Security Warns

40+ Fake Firefox Wallet Extensions Are Stealing Your Crypto, Koi Security Warns

July 3, 2025
The Power of One: How a Single Database Unlocks Full-Solution Automation

The Power of One: How a Single Database Unlocks Full-Solution Automation

June 30, 2025
Democratic Congressman Suozzi’s ,000 stock sale took advantage of a loophole in Congressional disclosure rules 

Democratic Congressman Suozzi’s $50,000 stock sale took advantage of a loophole in Congressional disclosure rules 

July 4, 2025
Revised UK welfare reforms to push 150,000 into poverty

Revised UK welfare reforms to push 150,000 into poverty

June 30, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Trump calls Musk’s new political party plan ‘ridiculous’

Trump calls Musk’s new political party plan ‘ridiculous’

July 7, 2025
Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

July 6, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!