The Electric: The Death of Cuberg Reflects a Battery Industry Shakeout

Northvolt’s decision this week to shut down Cuberg, its lithium-metal battery division, is another dramatic sign of a shakeout in the next-generation battery industry—a business that was so hot a few years ago that it seemed almost any startup could attract venture investment. It’s the second U.S. lithium-metal battery startup to fail in the last three months after Massachusetts-based Ionic Materials closed its doors and laid off its 40-person staff in June.