Part 5/6:
The collapse of Northvolt serves as a stark wake-up call regarding Europe’s strategic plans for the electric vehicle revolution. Producing batteries, which is an extremely energy-intensive process, has been severely hindered by the unprecedented rise in energy costs—factors exacerbated by a prevailing energy crisis that has left many factories teetering on the verge of collapse.
The once-promising vision for Europe’s electric vehicle sector now hangs in the balance, as companies find themselves unable to cope with the heavy financial burdens that the current economic climate imposes.