US EditionChinese Firms Overtaking European EV Makers Despite Massive Subsidies
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Chinese Firms Overtaking European EV Makers Despite Massive Subsidies
Northvolt, an electric vehicle (EV) battery maker that was once one of Europe’s best-funded start-ups, filed for bankruptcy in its home country, Sweden. The company had contributed 76 gigawatt hours to the region’s gigafactory pipeline. Its failure reduces European-owned cell production capacity to 30% of Europe’s 2030 pipeline, benefiting Asian producers and raising doubts about the viability of Europe’s own battery sector. The company, which a…
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