The spark is gone? Battery giant’s Cash Crisis Threatens European EV Industry
Northvolt, a leading EV battery maker, is on the brink of collapse due to $15 billion in funding exhaustion and delays in delivering batteries to clients like BMW and Volkswagen. This jeopardizes the European automakers’ ability to compete globally, particularly against China, and sell EVs in the U.S. With few alternative suppliers beyond China, European automakers face significant risks amid an ongoing EU-China trade war over proposed tariffs on Chinese EVs.
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