Northvolt CEO confident he won’t ask for more public money [Video]

Northvolt’s North American CEO suggested that the Swedish company may have been over-ambitious but reaffirmed that it had no intention of asking governments for more money for its planned lithium battery plant in Quebec.

Paolo Cerruti was addressing hundreds of representatives from the electric vehicle industry on Monday morning in Montreal at the International Conference on Advanced Lithium Batteries for Organized Automotive Applications.

The “last few months and weeks have been difficult” and we’re going through a “crucial period in the history of our company,” said Cerruti.

He reiterated that Northvolt is in Quebec “to stay,” but it remains unclear how the Swedish company’s restructuring will affect the Montérégie plant’s projects and schedule.

“Work is still in progress, and we don’t have all the answers yet. We’re doing this work day and night so that we can come back with answers to all the questions, which will take us another …