Mikaela Lundh previously worked at Northvolt and is now sharing her experiences from her time there.
Problems at Northvolt began long before they became public, with employees who spoke to the media allegedly pressured to leave.
This is revealed by Mikaela Lundh, a former employee, who is now sharing her inside account of Northvolt, as reported by Västerbottens-Kuriren. (in Swedish)
Lundh writes that issues started accumulating as early as 2022. Timelines were missed, quality tests failed, and then Russia’s invasion of Ukraine triggered widespread inflation and made it difficult to source Russian nickel, a key ingredient for European battery production.
Despite these challenges, it would take years for these problems to be communicated externally.
In her book, Northvolt: An Inside Account, Lundh writes that leadership held crisis meetings with employees following leaks. A former Northvolt project manager reportedly told her that openly discussing challenges could deter investors.
"Several of those suspected of leaking information were asked to leave voluntarily – otherwise their future at the company would be uncertain," Lundh writes.
She quotes a senior executive in the book:
– We have zero tolerance for disloyalty. If you have problems, raise them internally – not via the press.
Lundh, who had worked on strategic development for Northvolt’s German division, decided to write her book shortly before the bankruptcy of Northvolt Ett Expansion AB in autumn 2024.
– People wanted to fight to the very end. But even in Germany, we noticed delays were affecting customer relationships, and recruitment became difficult. On the floor, there was a sense of worry.
Despite highlighting many issues, Lundh states she does not intend to personally criticise the leadership.
– This is a story without malicious intent. At its core, it's about Europe’s green transition – something vital in the face of an existential threat.
Northvolt filed for bankruptcy on 12 March 2025.
Why did Northvolt collapse?
– They underestimated the difficulty. China and other parts of Asia have a 40-year head start in battery production, so the expansion was aggressive. But they should have tested the concept first. It was heavily loan-financed, and when inflation rose after Russia’s invasion of Ukraine, interest costs surged. We need to rethink how we finance projects like this.
What lessons can be learned from the Northvolt story?
– Many. But above all, no matter how strong or brilliant an idea is, it isn’t immune to reality.
Before publication, Lundh sent the book to Northvolt’s leadership but has not received a response.
– But I enjoyed my time there and wish everyone at the company all the best going forward, she told VK.
Lundh remained at Northvolt until the bankruptcy. Her next role will be with a foundation supporting small companies involved in the green transition. Asked if her Northvolt experience gives her great insight to share, Lundh laughed.
– Yes, I think so.