Last week, Northvolt became the talk of the town—and not in a good way. Billions invested. Big ambitions. Bigger headlines about its struggles.
But let’s get real: 𝘀𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗳𝗮𝗶𝗹. Even those that secure billions of euros. That’s the game. Investors knew the risks, and they’ll take the hit. Layoffs? Unfortunate, but not unique to startups. Just ask VW. Northvolt aimed high and couldn’t make it work this time. So what?
Here’s the deal: 𝘁𝗵𝗶𝘀 𝗶𝘀 𝗻𝗼𝘁 𝘁𝗵𝗲 𝗲𝗻𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗨 𝗯𝗮𝘁𝘁𝗲𝗿𝘆 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆. Northvolt’s stumble is not a death knell; it’s a wake-up call. It’s a signal that the EU’s battery ecosystem needs to rethink the fundamentals:
- 𝗛𝗼𝘄 𝘁𝗼 𝗯𝘂𝗶𝗹𝗱 𝗳𝗮𝗰𝘁𝗼𝗿𝗶𝗲𝘀.
- 𝗛𝗼𝘄 𝘁𝗼 𝗱𝗲𝘃𝗲𝗹𝗼𝗽 𝗱𝗲𝗲𝗽 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗸𝗻𝗼𝘄-𝗵𝗼𝘄.
- 𝗛𝗼𝘄 𝘁𝗼 𝘀𝗰𝗮𝗹𝗲 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝘆, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗾𝘂𝗶𝗰𝗸𝗹𝘆.
Next week, I’ll be touring Europe, meeting with industry players across the battery value chain. Sure, we’ll talk about Northvolt. But most of our focus will be on solutions. 𝗛𝗼𝘄 𝗱𝗼 𝘄𝗲 𝘀𝗰𝗮𝗹𝗲 𝗘𝗨 𝗯𝗮𝘁𝘁𝗲𝗿𝘆 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴? 𝗛𝗼𝘄 𝗱𝗼 𝘄𝗲 𝗲𝗻𝘀𝘂𝗿𝗲 𝗶𝘁𝘀 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘃𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆?
Northvolt’s story is a chapter, not the whole book. And it’s a chance for the EU battery industry to learn and grow.
💬 What do you think? Is this a blip or a broader lesson for cleantech scaleups? Let’s discuss. And if you’re working on scaling up in cleantech, 𝗿𝗲𝗮𝗰𝗵 𝗼𝘂𝘁!