Northvolt isn’t your average EV battery maker. It was recognized as one of Europe’s trailblazing green tech companies and was among the first startups to receive support from giants like Goldman Sachs and BlackRock in the up-and-coming field.
But things haven’t been easy for it lately. Last month, the Swedish company lost a lucrative $2 billion contract with carmaker BMW, which is also invested in the company. The order went to Samsung instead, underscoring the looming threat of Asian competition for the likes of Northvolt.
