US startup Lyten to buy bankrupt European battery maker Northvolt
US startup Lyten to buy bankrupt European battery maker Northvolt
www.reuters.com
reuters.com
12 comments
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That would have been an actually smart thing to buy for Volkswagen or another European car maker. Volkswagen used to own 23.6% of Northvolt, so they should know the business.
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Makes me think they sold out because they knew the business wasn't sustainable.
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VW has their own rapidly maturing battery cell production, so I suspect they just decided they didn't need to buy Northvolt. They probably already got all the IP they needed anyways.
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This is so horrible. A country in Europe subsidizes a company working on a technology for the future, but gets not real stakes in it. They build infrastructure in Europe. The government changes, stops subsidies, the management goes berserk (or turns out to just want to make moneys, no morals, what a surprise) in the meanwhile. No restructuring (or - it goes through a US “restructuring” protocol). Then it gets sold to Americans, with the infrastructure.
12 comments
Well, it was either the Chinese or the Americans. It's slightly better with the Americans, but I'm still annoyed that we can't do better in the EU.
The usa are becoming more like china by the day, so I woudnt say one is better that the other
Well, the US hasn't used tanks to crush protesters into a pulp yet, so I still think they are better. I just wish the EU could outdo them both when it comes to protecting our vital industries.
Edit: forgot a word