France’s Verkor calls for 'local for local' after Northvolt collapse
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 02 2025
0mins
Source: Yahoo Finance
EU's Need for Support in EV Battery Manufacturing: Benoit Lemaignan, CEO of Verkor, emphasizes that the EU must enhance support for local electric vehicle battery manufacturers to compete against foreign firms, particularly from South Korea and China, which dominate the market.
Challenges and Future Outlook: Following Northvolt's bankruptcy, Lemaignan urges European governments to remain committed to phasing out combustion engines and supporting EV battery companies, despite economic challenges, highlighting the importance of learning from industry setbacks.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
