Swedish Energy and Business Minister Ebba Busch expresses optimism about American company Lyten's interest in acquiring Northvolt, but warns of potential challenges ahead. She emphasizes that while the partnership seems promising, the transition will not be without its difficulties.
Ebba Busch on Northvolt's Future: 'No Pink Unicorns'
Ebba Busch on Northvolt's Future: 'No Pink Unicorns'
Ebba Busch (Christian Democrats) is pleased that Lyten wants to take over Northvolt, believing the companies are 'a good match.' However, the Energy and Business Minister anticipates more challenges.
"We shouldn't paint a pink unicorn on the wall and think this will be easy and smooth," she says.
The news that American company Lyten wants to buy battery manufacturer Northvolt broke on Thursday evening. A press conference was held in Skellefteå on Friday with all involved parties.
Ebba Busch participated via link from the government offices in Stockholm and later met with the media.
When asked if she believes Lyten has the strength to successfully run Northvolt, she responds affirmatively. The American company has been described in DN as 'an ant taking on a wounded elephant.'
"Otherwise, we wouldn't have supported this deal and been so active from the government's side to bring it to fruition. But that said, what Northvolt is doing is something no one else has done in this way and on this scale," says Busch, adding:
"And as with all major transformations, as it has been throughout the industrial revolution, when you do something new, big for the first time, there will be significant challenges along the way."
'A Good Match'
Therefore, Ebba Busch expects more challenges and problems, and advises against painting a 'pink unicorn' on the wall and thinking everything will now be easy.
She believes that the remaining Northvolt employees and those who may want to return in new positions are seasoned and understand this.
"But I think Lyten and Northvolt are a good match. And the American company and Sweden are a good match for each other."
Ebba Busch does not want to speculate on how many new jobs Lyten's takeover might create. She believes it is too early and that Lyten needs to progress further in the process first.
However, she says the government may consider helping former employees now threatened by regulations forcing them to leave Sweden. She notes, however, that she currently sees no room for such measures in the regulations.
"What I hope is that Lyten will have the capacity to start hiring immediately, as this would resolve the core issue concerning work permits," says Busch.