European policymakers must face up to the costs of developing the region’s own battery industry to reduce its dependence on Asian suppliers, according to the boss of bankrupt Swedish group Northvolt.
Tom Johnstone, interim chair of the failed battery start-up, told the Financial Times that there needed to be the will and patience “to realise there’s going to be a huge amount of money to invest, there’s going to be some pain to go through”.
“There’s a cost to pay for it, but there can be a bigger cost to pay for not doing it,” he added.
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