Northvolt plans to lay off 1,600 employees in Sweden, including 1,000 jobs at the Northvolt Ett plant in Skelleftea in the north of the country.
The Swedish lithium-ion battery developer and manufacturer said it will suspend plans for a major expansion of Northvolt Ett and will now focus its resources on speeding up battery production at the plant, prioritizing its commitments to current customers in the automotive industry.
Northvolt said today that it will focus on increasing the annual battery production capacity of the first 16 GWh at Northvolt Ett, as it abandoned an upcoming project that aimed to increase its capacity by an additional 30 GWh.
Northvolt has faced a series of financial and operational problems in recent months with reports that the company needs a capital injection of around 7.5 billion Swedish kroner (661 million euros) to avert a liquidity crisis.
According to its 2023 annual report, Northvolt had over 5,800 employees at the end of 2023.
Source: www.autoblog.gr
