Sweden's green industry hopes hit by Northvolt woes

Financial problems at battery maker Northvolt have shaken hopes for Sweden's green industry sector.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthVideoLiveAudioWeatherNewslettersSweden's green industry hopes hit by Northvolt woesGetty ImagesThere were great hopes for the Northvolt battery plant Skellefteå, SwedenHeavy snow blends into white thick clouds in Skellefteå, a riverside city in northern Sweden that is home to 78,000 residents.

It's also the location of what was supposed to become Europe's biggest and greenest electric battery factory, powered by the region's abundance of renewable energy.

Swedish start-up Northvolt opened its flagship production plant here in 2022, after signing multi-billion euro contracts with carmakers including BMV, Volkswagen and Nordic truck manufacturer Scania.

But it ran into major financial troubles last year, reporting debts of $5.8bn (£4.6bn) in November, and filing for bankruptcy in the US, where it had been hoping to expand its operations.

Since September it's laid off around a quarter of its global workforce including more than 1,000 staff in Skellefteå.

https://www.bbc.com/news/articles/crrwqpdv5q7o

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