Reporting the S-Leader to the Constitutional Committee

The Moderate Party reports S-leader Magdalena Andersson, formerly among others Finance Minister, to the Constitutional Committee (KU). The party believes that there are question marks surrounding the AP funds' investments in the crisis-stricken battery manufacturer Northvolt. The Social Democrats call the report frivolous.

» Published: January 22 2025

Reporting the S-Leader to the Constitutional Committee
Photo: Jakob Åkersten Brodén/TT

It is important that the Constitutional Committee investigates whether there have been undue political pressures on these investments, says Mattias Karlsson, who is The Moderate Party's group leader in the Riksdag.

He refers to a debate in the Riksdag in June 2022 when Magdalena Andersson said that the investments that "flooded over Sweden", including battery factories in the north, would not have occurred if the Green Party had not driven them forward with a combination of "carrot and stick".

Invested nearly 6 billion

Total, the AP funds have invested 5.8 billion kronor in Northvolt. The first investments were made, according to Mattias Karlsson, in 2021 when Magdalena Andersson was the Minister of Finance and thus the head of the Ministry of Finance, which is responsible for the AP funds.

The AP funds should not, according to law, be controlled by industrial policy or economic policy motives, it is serious if there has been any undue influence from the government's side, he says.

TT: Why are you making this Constitutional Committee complaint now and not at the time of the statement?

When Northvolt went into reconstruction, it became clear who had invested and how the AP funds, and among others, the state-owned Vattenfall, had made these investments.

According to Karlsson, there is now a real risk that the money will be lost.

Then I think it's extra important to look into whether there has been an undue influence.

The crisis-ridden battery factory Northvolt is currently undergoing a reconstruction process, a so-called Chapter 11 procedure, in a court in the USA.

Not secured financing

On Wednesday, the news agency Bloomberg reported that the company has not yet secured the financing required to complete the process.

The Social Democrats' press service writes in a comment that it is up to the Constitutional Committee's members to decide whether they want to take up the matter for review, but that "it would be fitting if The Moderate Party at least turned to the right responsible minister". According to the Social Democrats, the questions fall under the Minister for Financial Markets.

"It's hard to see this as anything other than an unserious attempt to shift focus from the Landerholm affair", the press service writes further.

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By TTThis article has been altered and translated by Sweden Herald

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