Swedish Government's Stance on Northvolt

STOCKHOLM (Reuters) – The Swedish government does not intend to acquire a stake in battery manufacturer Northvolt, according to Minister for Energy, Business, and Industry, Deputy Prime Minister Ebba Busch, in a statement to Reuters on Tuesday.

This announcement aligns with Prime Minister Ulf Kristersson's previous comments, indicating that the government will not invest in the financially troubled battery maker.

Busch noted, "There are huge investments happening in the green transition in Sweden whether or not the Northvolt project gets fully completed or not."

She emphasized Northvolt's significance, stating, "Northvolt is important for Sweden and it's important for the whole of the European Union, because we are in something of an industrial fight with China and the United States."