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Northvolt lays off 1,600 workers
Northvolt Goes From Europe’s Battery Hope to Symbol of EV Bust
Northvolt AB was supposed to power Europe’s response to the likes of Tesla Inc. and China’s fast-growing electric vehicle makers. Instead, the Swedish battery company is fighting to stay afloat.
Northvolt lays off 1,600 workers, but it’s not the end for Europe’s battery champion
Europe’s attempt at building a battery manufacturing powerhouse announced that it had halted work on a factory expansion and laid off about 20% of its employees.
Another blow for electric vehicle drive as battery startup Northvolt lays off 1,600 workers
Swedish battery maker Northvolt said on Monday it was cutting a fifth of its workforce and scaling back expansion plans in response to "headwinds."
Mining
7h
How Europe’s battery hope has become a symbol of the EV bust
Northvolt
AB was supposed to power Europe’s response to the likes of Tesla Inc. and China’s fast-growing electric vehicle ...
The Economist
1d
Northvolt announces more cuts, worrying investors
Even big
battery
-makers like South Korea’s SK On and LG Energy Solution are facing thinner margins.
Northvolt
lost $1.2bn ...
Digi Times
18h
European battery makers struggle as EV demand cools and investments falter
Europe's homegrown lithium battery sector is grappling with widening losses as electric vehicle (EV) demand slows and ...
The Asset
2d
Northvolt scales back battery ambitions
Swedish battery maker Northvolt is scaling back its growth plans, a move that analysts view as a blow to the ambitious plans ...
Automotive News
12h
How Europe's battery hope Northvolt has become a symbol of the EV bust
As the battery maker faces a crushing liquidity crunch, the company’s creditors will meet on Sept.27 to decide on freeing up ...
canada.autonews
1d
Northvolt's planned $7B EV battery plant has Quebec premier taking heat
Opposition leaders at the Quebec legislature on Sept .24 called on the Coalition Avenir Québec government to be more ...
2d
Northvolt Hires Advisory Firm Teneo to Tackle Cash Crunch
Sweden’s Northvolt AB has hired consulting firm Teneo for restructuring advice, including contingency planning should the ...
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Europe
Sweden
Montreal
François Legault
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