Stop wasting other people's money

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government. It was the previous government that went to bed with Northvolt and invested enormous amounts of tax dollars.

Yesterday, an extraordinary owners' meeting was held to discuss Northvolt's acute liquidity crisis and the company's enormous losses. Northvolt's communications manager Matti Kataja writes in an email to the state-owned Swedish Television (SVT) quote "Northvolt is satisfied with the result of today's extraordinary general meeting, where the shareholders voted for the continuation of Northvolt's operations" unquote.

AMF's equity manager Anders Oscarsson, who has invested $16,000,000 of Swedish pension savers' money, attended the owners' meeting and states that he is positive about the future. Anders Oscarsson continues quote "The lenders have to make some concessions, but that's what this whole process is doing right now" unquote.

Most people who have not invested money in Northvolt have the ability to realize that the company will never make a profit. To make the factory in Skelleftea a success and profitable, the factory must be freed from two major problems, all debts and Northvolt's management whose main talent is finding investors, not building battery factories.

For Europe to get its own battery factory, Northvolt needs to go bankrupt and the only way that will happen is for pension companies and similar companies to stop wasting other people's money.

AI generated image with Grok