Professor Magnus Henrekson was early to criticize Northvolt's battery venture. He previously called the former owners irresponsible and accused them of focusing on inflating the image of their own excellence rather than learning to build good batteries.
After yesterday's announcement, he is "realistically optimistic".
It's a very small company with new technology that buys what is intended to be a very large business, he says.
Requires perseverance
That Lytens CEO Dan Cook calls the company's own production of lithium-sulfur batteries "unique" does not impress Henrekson.
All companies that have something new always claim that what they have to offer is unique and will change the industry. If it's true, it can be incredibly good. But you can't shout until you've crossed the stream.
Dan Cook has, however, added with some humility that Northvolt grew too fast, that they will now learn from the mistakes and let real production form the basis for development.
It's a good start, not like the previous owners promising gold and green forests.
Henrekson doubts that Lyten will have thousands of workers in the Skellefteå factory in place in the near future.
The factory's machines are not of the latest generation, he notes, and getting new ones takes time, while you have to have capital to pay wages in the meantime.
It's essential that they have the perseverance to keep things going in Skellefteå. It will take time before they have solid production there.
No hero role
The American company has so far taken in $625 million in capital and has support from, among others, the US export agency.
It naturally strengthens them financially, says Henrekson, who is skeptical of the ambition that Sweden will save Europe from dependence on China in the battery area.
Of course, the Western world should make itself less dependent on China. But little Sweden should not take on the big task and the significant risks that it entails. It can rather be done by the USA, Germany, and France, he says, and means that Sweden can instead profile itself with input goods in manufacturing and industry.
Now the ball is with the USA. If it goes wrong, it's not the Swedish AP funds that will be affected. If the USA and Germany think this is important, maybe they are willing to foot the bill. We've burned ourselves enough.
