Northvolt, the start-up that promised to help all incumbent European automakers develop electric vehicles, is in turmoil. With it, the whole European Battery Airbus project is in the doldrums, a sure sign that instead of helping its old champions as it has always tended to do, Europe should start looking more resolutely to the future. Swedish company Northvolt was supposed to be, at last, a new European technology champion of global stature, second only to Spotify… But Northvolt, which was to supply lithium-ion batteries to the European automotive industry, is lagging behind. Order books are – or rather were – full, but the company is struggling to deliver the promised batteries, leaving manufacturers such as BMW and Scania in the lurch. And yet, unlike Spotify, which was also born in Sweden and had to raise most of…
