With 578 votes in favour, 54 against and 30 abstentions, Parliament approved the release of €8.5 million from the European Globalisation Adjustment Fund for Displaced Workers (EGF) to support employees dismissed following the bankruptcy of electric-vehicle battery manufacturer Northvolt AB in March 2025. The Swedish company specialised in battery manufacturing for electric vehicles to reduce European dependence on Chinese manufacturers. Northvolt faced significant operational challenges that impacted production capacity, while intense global price competition driven by state-subsidised manufacturers, particularly in China, led to order cancellations and market oversupply, ultimately undermining the company’s position.

The EU is set to cover 60% (€8.5 million) of the estimated €14.2 million cost of the assistance through the EGF fund, while Swedish authorities contribute the remaining €5.7 million. The measure will assist approximately 5,800 workers in re-entering the…