E-car battery production: “The European dream is over”

Europe wanted to become independent of China when it comes to electric car batteries. But now one of the most important companies is having problems. Experts say: Europe has gambled away.

November 30, 2024, 9:56 am

94
Comments

Article summary

German ambitions for batteries for electric cars are on shaky ground, as a press review from the last few months shows. Northvolt, Germany’s best hope, has filed for bankruptcy protection in the US, while other companies such as SVolt are winding down their operations in Europe. The European battery market continues to suffer and China continues to dominate. There is hope for new types of batteries, such as sodium-ion batteries, which could still become important in the future.

This is an experimental tool. The results may be incomplete, outdated or even incorrect.

Did you find the summary helpful?

View of the construction site for the planned Northvolt battery cell factory near Heide in Schleswig-Holstein
© Chris Emil Janssen/imago images

Anyone who wants to know what German ambitions are like?
Batteries for electric cars All you have to do is do a little press review of the past few months. “ACC plant in Kaiserslautern: construction stop for the superlative battery factory,” reports the daily news I’m June. “Cuts in the battery cell factory in Salzgitter” writes the Local local newspaper I am September. “SVolt is ceasing business in Europe,” it says Saarland Radio about a Chinese battery company in October.

But no news is as worrying as this one: Last week, probably the biggest German hope, the Swedish battery manufacturer, also had a chance “Northvolt”, filed for bankruptcy protection in the USA. The procedure prevents creditors from taking legal action against Northvolt for a certain period of time. In doing so, Northvolt wants to restructure its debt, create growth prospects and gain “access to financing sources,” the new company writes in a press release.