Northvolt Bankrupt! What Went Wrong with Europe’s EV Battery Giant?

On March 12, Northvolt—once hailed as Europe's answer to China's battery dominance—officially filed for bankruptcy, wiping out a 6 billion SEK investment from Sweden’s national pension funds. Despite securing over $10 billion in funding and $55 billion in pre-orders, the company failed spectacularly.

What went wrong? From supply chain failures and misguided technology bets to engineering talent shortages and severe operational mismanagement, Northvolt’s downfall exposes deep cracks in Europe’s green tech ambitions. Adding to the controversy, Peter Carlsson, Northvolt’s founder and former Tesla executive, refused to address whether he profited from the company—calling such questions "stupid" and leaving many in stunned silence.

As Europe grapples with the consequences, should taxpayers continue funding ambitious industrial projects, or is this a harsh lesson in economic reality?

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💬 What do you think led to Northvolt’s failure? Let us know in the comments!