After Northvolt's bankruptcy on March 12, speculation is now rife about who or which parties could take over the operations. Among other things, it has been discussed that Chinese battery manufacturers could be interested, which Minister of Trade Ebba Busch (KD) thinks would be unsuitable new owners.
I think that's very dangerous, she said during a press conference earlier in the week, referring to security policy risks.
Are secretive
She simultaneously reminded that the regulations for foreign investments in Sweden give ISP the task of assessing the issue – not the government.
ISP is, however, very secretive about any potential review of new investors or owners for Northvolt and also about whether Northvolt is the type of operation that constitutes a protected company.
We generally do not comment on notification requirements, it's the investor who has an obligation to understand it simply, says Lars-Göran Larsson.
ISP also does not comment on whether they previously reviewed any Northvolt investor.
This is surrounded by commercial secrecy, so we never comment on whether we've had a specific case. Unless the investor themselves makes it public, then it's a different matter, says Lars-Göran Larsson.
A prohibition
ISP has received over 1,200 notifications of investments in protected companies. Of these, about twenty went on to review. Of the reviewed cases, a handful were approved with conditions. One investment was prohibited.
And since the investor themselves went out and made it public, we can confirm that it was PTL, says Larsson, referring to China-owned Shanghai Putailai (in Sweden called PTL) whose investment in a battery anode factory in Timrå was stopped.
