Prediction: some heavily state-subsidized tech company from guess which country - not an EU member and name starts with C - maybe even a previous partner whose unreliability hindered production - will buy the properties at a relatively cheap price and possibly make things work.

Background:

https://www.theguardian.com/business/2024/oct/01/sweden-fears-for-future-of-batterymaker-northvolt

Diagnosis:

But some have accused the government of naivety. Jonas Algers, a PhD student at Lund University’s environmental and energy systems studies department, said: “Everyone likes the idea of a slick startup with a charismatic CEO and fancy PowerPoints revolutionising a sector.

“But at the end of the day, if you want to build a massive, largest-in-Europe plant it will require lots of workers who need to be coordinated, lots of construction that needs to be done in a safe manner, and skills and technology that need to be developed. None of this is a simple task.”

H2 Green Steel, in Boden, northern Sweden, had learned from Northvolt’s mistakes, Algers said, but there were issues in the Swedish labour market for large-scale projects like Northvolt.

Citing issues with cashflow, workplace accidents, and problems with subcontractors and machines, he said: “What policymakers need to understand is that the Swedish labour market model is in a bad state due to loopholes and excessive subcontracting which undermines Sweden’s ability to build large and advanced industrial projects.”