Who is going to make EV batteries in Europe?
Will EMN sell manganese battery material to the Chinese in China?
No EV battery manufacturers left in Europe. Northvolt's financial collapse deals a blow to Europe's plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals.
European battery projects have been postponed or canceled, leading to a reduced projected battery pipeline capacity. Eleven out of 16 planned European-led battery factories have been delayed or canceled, while Bloomberg News reported that eight companies postponed or abandoned European EV battery projects in 2024. Bankrupt Northvolt to close shop for good after failed buyer search
Swedish battery company Northvolt went bankrupt in March after struggling to survive for several months.
MARKETWIRE
23 May 2025at 09:46
Insolvent Swedish battery manufacturer Northvolt will close and shut down its last factory in northern part of the country unless a buyer comes forward by the end of June, reports Bloomberg News, citing anonymous sources.
The company filed for bankruptcy in March and its assets were put up for sale. However, it has not yet been possible to find a buyer.
Northvolt has one remaining factory in Skellefteå, where it produces batteries for truck manufacturer Scania.
EMN Price at posting:
18.8¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)