Exclusive From The Electric: Two Battery Startups Shade the Truth on Their Progress

Six months ago, Freyr Battery announced that the next-generation battery it was developing had hit a snag: The equipment it had ordered to automate production wasn’t working properly, and it wasn’t clear when it would be. So Freyr wouldn’t begin to sell batteries—and generate revenue—as soon as it had planned. Investors walloped Freyr’s shares, halving their price the day after the Nov. 9 announcement.