The huge pension fund AMF, which is jointly owned by the Swedish Trade Union Confederation (LO) and the Confederation of Swedish Enterprise (Svensk Näringsliv)is investing 740 million kronor in the battery factory Northvolt, up north in Skellefteå. This means that a fair chunk of workers’ pensions are being invested in a company where barely a spade has been lifted. AMF says it’s just a part of their risk portfolio, which has got to mean they’re prepared to lose it. On the one hand, batteries are desperately needed and the sooner Northvolt’s finances are in order and they’re up and running, the better. On the other hand, a lot of money is going into a technology that everyone agrees has got to get a lot better fast, and factories aren’t known for adjusting quickly. It’s also assuming there isn’t a small quantum leap on the horizon, something which everyone is basically hoping for when what we’ve got now is pretty unsatisfactory. So, yup, a pretty risky investment that we really really hope works out.