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flag Swedish govt declines to invest in struggling battery maker Northvolt; will focus on private ownership.

flag Swedish Prime Minister Ulf Kristersson announced that the government will not invest in Northvolt, a struggling battery maker facing competition and declining EV sales. flag Northvolt plans to downsize and focus on battery cell production after losing a major contract. flag Despite concerns over its future, the government believes private owners should guide the company. flag Northvolt will need to source materials from Asian suppliers, highlighting Europe's reliance on them for battery production.

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