Radio Sweden Weekly: Northvolt bankruptcy leaves workers with an uncertain future

This episode explores the sudden bankruptcy of Northvolt, a green battery manufacturer, and its significant impact on the Swedish economy and its workforce. Against the backdrop of substantial financial losses escalating from 1.1 billion SEK in 2021 to 12.5 billion SEK in 2023, the company's bankruptcy is described as the largest in modern Swedish history. More significantly, the bankruptcy leaves approximately 5,000 workers, including over 1,000 non-EU citizens, facing job insecurity and potential deportation. The podcast features interviews with impacted workers expressing shock, worry, and uncertainty about their future, highlighting the three-month timeframe they have to secure new employment to maintain their residency status. For instance, one worker, Malkwan, emphasizes the difficulty of finding a new job within this short period, given the scale of job losses. The discussion then pivots to the broader implications for Skellefteå, where Northvolt's main plant is located, and the region's economic future. Local officials express hope for a swift acquisition of the company, emphasizing the region's skilled workforce and the municipality's commitment to supporting new businesses. However, the Swedish government's response, while offering support, also underscores the strategic importance of European battery manufacturing and the need to reduce reliance on China, raising concerns about the possibility of a Chinese takeover. In conclusion, this episode reveals the complex interplay of economic hardship, immigration policy, and geopolitical competition in the aftermath of Northvolt's collapse, highlighting the challenges faced by both individual workers and the Swedish government in navigating this crisis.