Automakers

Europe leans on Asia for 'homegrown' EV batteries

Northvolt Sweden
Sweden's Northvolt has formed a joint venture with VW Group and struck a long-term battery supply deal with BMW and Volvo. (Helena Soderpalm/REUTERS)
R
By:
Reuters
November 04, 2022 04:13 PM

LONDON/BERLIN -- Europe's drive to build a homegrown electric vehicle battery industry is hitting roadblocks as investors shy away from giving startups sufficient funding to challenge the Asian companies that dominate the market.

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