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They're in Europe and they produce a lot of batteries. The caveat is that 80% of the investment money came from LG, a South Korean company.

https://www.bruegel.org/analysis/europe-has-solid-basis-batt...

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There’s the former darling Northvolt. Took a lot of state money and then imploded https://www.theguardian.com/business/2025/mar/12/ev-battery-...

The comments on Reddit from folks who claim to have worked for Northvolt are pretty wild. I would take them with a grain of salt, but they're interesting to read. https://www.reddit.com/r/electricvehicles/comments/1fl8d4y/c...

Some people like to say they did, but when you look at the money it was almost all private capital, from big banks and large infrastructure and private pension funds.

That does not make the investment any better. Private capital can be misallocated too.

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