Europe’s best-funded start-up raised $15bn but was left with just $30mn in cash
Northvolt’s chief executive has resigned a day after Europe’s big battery hope filed for bankruptcy, warning that the continent’s green industrial transition is at risk from dithering policymakers, carmakers and investors.
” Right-wing parties, strengthened by EU-wide elections in June, are increasingly questioning the continent’s green agenda amid deep concerns about burdensome red tape, job losses and plant closures and in the face of fierce global competition and high costs. Mohammed Chahim, a Dutch MEP, said: “If it was a bank we would have stepped in as governments but if it is a key tech for the future there is a bit more hesitance.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Northvolt chief resigns a day after battery maker collapses into bankruptcyEurope’s best-funded start-up raised $15bn but was left with just $30mn in cash
Read more »
So long, tennis! How padel took over the worldWe go to the source of a 30mn-strong phenomenon
Read more »
Volvo moves to buy out Northvolt from Gothenburg battery projectChinese-owned Swedish carmaker is reviewing options for a potential partnership
Read more »
Northvolt’s future hangs in balance as bankruptcy loomsTroubled European battery maker in race against time to secure short-term funding
Read more »
Battery start-up Northvolt files for bankruptcy in the USEurope’s big hope for homegrown manufacturing has struggled with production at its factory in northern Sweden
Read more »
‘There was so much promise’: How Northvolt tumbled into bankruptcyBattery champion became a symbol of Europe’s ambitions and then its failings on its way to Chapter 11 proceedings
Read more »