The fact that Northvolt is not yet in full production at the factory in Skellefteå means that the battery giant is now eating up its own capital at a high rate, says Magnus Henrekson, professor of economics.
– There may well be a stop to the funding and then you end up in a precarious situation, he says Current.
Financial crisis for Northvolt
Northvolt closes part of the factory in Skellefteå – the communications manager: “Tough decision to make”
Scania’s supplier Northvolt in financial crisis – Press manager: “Haven’t heard any concerns”
On Monday, the news came that Northvolt is closing part of the factory in Skellefteå and that personnel must be notified. That after prolonged problems in the start-up phase.
– I had expected that you would have the industrial competence to be up and running today and at full capacity utilization, says Magnus Henrekson.
Another actor can step in
According to Pontus Braunerhjelm, also a professor of economics, some other actor may in the future take over the facility in Skellefteå.
– Should the worst happen here, that you have to stop the payments and the company goes bankrupt, this does not mean that the facility will disappear, but then another actor will probably come in, but at lower capital costs, he says in Aktuellt.
“In a few years, development can speed up again”
In many places in Europe, investments are being made in battery factories similar to the one in Skellefteå. Björn Sandén, professor of innovation and sustainability, has previously warned that not everyone will survive.
– This is a reaction to the fact that the market grew more slowly than was predicted a few years ago, he says after Northvolt’s announcement on Monday.
He points out that electrification is still in its infancy and that going forward there is a risk of both over-optimism and over-pessimism, which affects the companies.
– In a few years, development can go faster again. It is difficult to know which actors will survive, it is important that the actors have endurance and can handle these kinds of fluctuations, because the transition will continue. It is important to find a level where you as a company grow fast enough.
One of Northvolt’s biggest customers is the vehicle manufacturer Scania, who are tight-lipped after Monday’s announcement.
– We follow developments closely and are in close contact with Northvolt, says Scania’s press manager Erik Bratthall.
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“Hopefully I get to keep my job” – Northvolt employee Matthew tells how he sees the company’s tough announcement. Photo: Arkivbild/SVT, Oskar Jönsson/SVT
Tax billions at stake
So far, billions in tax money have been invested in the factory in Skellefteå. This is according to a compilation that SVT’s Aktuellt has made. Money at risk if Northvolt were to go bankrupt.