This is so horrible. A country in Europe subsidizes a company working on a technology for the future, but gets not real stakes in it. They build infrastructure in Europe. The government changes, stops subsidies, the management goes berserk (or turns out to just want to make moneys, no morals, what a surprise) in the meanwhile. No restructuring (or - it goes through a US “restructuring” protocol). Then it gets sold to Americans, with the infrastructure.
That would have been an actually smart thing to buy for Volkswagen or another European car maker. Volkswagen used to own 23.6% of Northvolt, so they should know the business.
Makes me think they sold out because they knew the business wasn’t sustainable.
VW has their own rapidly maturing battery cell production, so I suspect they just decided they didn’t need to buy Northvolt. They probably already got all the IP they needed anyways.
