Swedish battery maker Northvolt is enterprise a strategic assessment that might result in job losses as the corporate goals to chop prices and cut back formidable enlargement plans, Reuters reported Monday.
“No ultimate choices have been made on the exact nature of any (workforce) resizing,” Northvolt mentioned in a press release to Reuters. The corporate has determined to droop cathode lively materials manufacturing at its Skelleftea manufacturing facility in Sweden, which can reportedly require Northvolt to import the fabric for meeting of lithium-ion battery cells.
Rendering of Northvolt Six battery manufacturing facility in Quebec, Canada
Opened in 2021, the Skelleftea manufacturing facility is Northvolt’s first battery plant. Thus far it hasn’t reached the complete deliberate manufacturing capability, Reuters reported. It has round 3,500 workers, in keeping with Northvolt’s 2023 annual report. Northvolt has about 5,000 workers in complete, in keeping with Reuters.
Reuters reported that Northvolt deliberate to begin talks with “potential companions and buyers” relating to its deliberate manufacturing facility in Gdansk, Poland, however remained dedicated to beforehand mentioned new factories in Germany, Canada, and Sweden. The latter is a three way partnership with Volvo introduced in 2022 that was initially scheduled to open in 2025. However all pending tasks may reportedly face delays as Northvolt reevaluates its monetary scenario.
Artist’s impression of Volvo and Northvolt battery plant deliberate for Gothenburg, Sweden
Northvolt is among the startups aiming to create an area EV battery business for Europe, nevertheless it has confronted a number of setbacks not too long ago. In June BMW canceled a battery provide deal estimated to be price about $2 billion. Northvolt on Friday additionally introduced that it was cancelling plans for a second cathode lively materials plant in Borlange, Sweden, as a part of the continuing strategic assessment.
Final month, Northvolt additionally introduced that it was shutting down an R&D middle in California, which the corporate inherited with its acquisition of Cuberg in 2021. The California R&D middle was researching lithium-metal battery know-how, work that Northvolt indicated can be transferred to its primary R&D middle in Sweden.