Swedish battery maker Northvolt is enterprise a strategic evaluate that might result in job losses as the corporate goals to minimize prices and reduce formidable growth plans, Reuters reported Monday.
“No closing selections have been made on the exact nature of any (workforce) resizing,” Northvolt stated in a press release to Reuters. The corporate has determined to droop cathode lively materials manufacturing at its Skelleftea manufacturing unit in Sweden, which is able to reportedly require Northvolt to import the fabric for meeting of lithium-ion battery cells.
Rendering of Northvolt Six battery manufacturing unit in Quebec, Canada
Opened in 2021, the Skelleftea manufacturing unit is Northolt’s first battery plant. Thus far it hasn’t reached the total deliberate manufacturing capability, Reuters reported. It has round 3,500 employees, in line with Northvolt’s 2023 annual report. Northvolt has about 5,000 workers in whole, in line with Reuters.
Reuters reported that Northvolt deliberate to start out talks with “potential companions and traders” concerning its deliberate manufacturing unit in Gdansk, Poland, however remained dedicated to previously-discussed 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 likely one of the startups aiming to create a neighborhood EV battery trade for Europe, nevertheless it has confronted a number of setbacks lately. In June BMW cancelled a battery provide deal estimated to be value 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 continued strategic evaluate.
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 expertise, work that Northvolt indicated can be transferred to its most important R&D middle in Sweden.