ENERGY
Swedish battery manufacturer Northvolt has since mid-September missed several internal production targets and reduced production at the factory in Skellefteå. This is reported by Reuters with reference to internal documents and sources.
Two documents, labeled “Production Plan 2024,” show that since early September, Northvolt has continuously missed weekly production targets for deliverable cells, or cells deemed good enough to be delivered to customers. The data is valid up to and including the week ending November 10.
In the documents, it also appears that alongside the targets for each week, the company aims to be able to reach 51,000 deliverable cells in one week at the end of 2024.
In a comment, Northvolt has said that the goals were set on September 5 and were “long out of date”. The company did not elaborate on its current production targets, which are said to be based on agreed customer deliveries.
Northvolt only manufactures on weekdays
The latest production figures can be compared with the company’s announced goal at the end of September to reach 100,000 cells per week before the end of the year.
Regarding the production stoppage, two sources state that this has applied to one of two factories in Skellefteå since the end of October. They added that the shutdown was expected to last at least until December.
To cut costs, the company ended its 24/7 production cycle on Nov. 11 and began manufacturing only on weekdays, according to sources and documents seen by Reuters. Northvolt has confirmed the reduced shifts to the news agency, saying it is focusing “on delivering on contracted customer volumes”.
Decisive days for Northvolt
The troubled battery manufacturer Northvolt is considering filing for bankruptcy protection in the United States, several media outlets report citing sources.
But it can also end with a regular bankruptcy filing.
The next few days are decisive for how it ends, according to sources involved in Northvolt’s negotiations with lenders and owners for support to save the company, according to the newspaper Financial Times.
Source: www.nyteknik.se
