Western VCs go to china and realize “oh shit, oh fuck, they can just print solar panels and batteries”

“We just saw the most automated, most advanced manufacturing line, and they had 12 of them in parallel, and many more around them,” says Jacob Bro, co-founder and partner at 2150. “And when you see that, you also just realize that catching up to that is futile: it’s not going to happen.”

Europe’s hopes of producing a world-leading battery giant sank with Northvolt AB, which has sought Chapter 11 bankruptcy protection in the US and also filed for bankruptcy in Sweden.

Today, says Bro, “if you want to build something like a Northvolt in Europe, you should invite these guys over and do it with them.”