Why Northvolt failed to become Europe’s battery champion

• Northvolt was once seen as Europe's battery champion but faced challenges with management, safety standards, reliance on foreign machinery, and misuse of capital
• Northvolt filed for bankruptcy after facing issues with production output, leading to job cuts and a strategic review to restructure the company. Investors like Goldman Sachs wrote down their investments in Northvolt to zero, raising questions about the future of battery making in Europe.
• Investors like Goldman Sachs wrote down the value of their Northvolt investments to zero.

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