Sweden's green industry hopes hit by Northvolt woes
"Heavy 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.
Many researchers and journalists tracking Northvolt's downfall share the view that it was at least partly caused by a global dip in demand for electric vehicles (EVs).
In September Volvo abandoned its target to only produce EVs by 2030, arguing that "customers and markets are moving at different speeds". Meanwhile China, the market leader in electric batteries, has been able to undercut Northvolt's prices.
Missing production targets (a key factor in BMW pulling out of a €2bn deal in June), expanding too quickly, and the company's leadership have also been widely cited as factors fuelling the crisis."
More at the Beeb : https://www.bbc.co.uk/news/articles/crrwqpdv5q7o
Electric Vehicles:Batteries and recycling
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bobins
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bobins
- Donor 2024
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- Joined: 05 Jul 2012, 18:07
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Re: Electric Vehicles:Batteries and recycling
I post this here more for its oddity value than anything else. At what point does a business cross the line to become a military business ?
"The US has added several Chinese technology companies, including gaming and social media giant Tencent and battery maker CATL, to a list of businesses it says work with China's military.
The list serves as a warning to American companies and organisations about the risks of doing business with Chinese entities.
While inclusion does not mean an immediate ban, it can add pressure on the US Treasury Department to sanction the firms.
Tencent and CATL have denied involvement with the Chinese military, while Beijing said the decision amounted to "unreasonable suppression of Chinese companies".
The Department of Defense's (DOD) list of Chinese military companies........
.......is part of Washington's approach to counteracting what it sees as Beijing's efforts to increase its military power by using technology from Chinese firms, universities and research programmes.
...CATL also called the designation a mistake and said it "is not engaged in any military related activities."
The Pentagon had come under pressure from US lawmakers to add some of the firms, including CATL, to the list.
This pressure came as US car making giant Ford said it would invest $2bn (£1.6bn) to build a battery plant in Michigan. It has said it plans to license technology from CATL."
More at the Beeb: https://www.bbc.co.uk/news/articles/c9q78wn9g8zo
Curiouser and curiouser
"The US has added several Chinese technology companies, including gaming and social media giant Tencent and battery maker CATL, to a list of businesses it says work with China's military.
The list serves as a warning to American companies and organisations about the risks of doing business with Chinese entities.
While inclusion does not mean an immediate ban, it can add pressure on the US Treasury Department to sanction the firms.
Tencent and CATL have denied involvement with the Chinese military, while Beijing said the decision amounted to "unreasonable suppression of Chinese companies".
The Department of Defense's (DOD) list of Chinese military companies........
.......is part of Washington's approach to counteracting what it sees as Beijing's efforts to increase its military power by using technology from Chinese firms, universities and research programmes.
...CATL also called the designation a mistake and said it "is not engaged in any military related activities."
The Pentagon had come under pressure from US lawmakers to add some of the firms, including CATL, to the list.
This pressure came as US car making giant Ford said it would invest $2bn (£1.6bn) to build a battery plant in Michigan. It has said it plans to license technology from CATL."
More at the Beeb: https://www.bbc.co.uk/news/articles/c9q78wn9g8zo
Curiouser and curiouser