Swedish giant Northvolt in crisis, selling Gdańsk factory
Source: Pexels
The European Commission defended its involvement in battery projects despite the crisis faced by Swedish giant Northvolt. Spokeswoman Johana Bernsel emphasized that EU initiatives in this area have been successful. However, she acknowledged uncertainty about meeting set targets, stating, "No one has a crystal ball." Northvolt recently announced it needs $1 to 1.2 billion for restructuring and plans to sell its energy storage facility in Gdańsk.
The Commission supports 160 battery projects under the "European Battery Alliance" to strengthen value chains and consolidate funding. Despite Northvolt's struggles, the EU aims to cover two-thirds of its battery needs. Bernsel reaffirmed that the battery alliance has been a success, citing 30 gigafactory projects producing 167 GWh in 2023.
