Northvolt to Cut Staff, Halt Some Output as EV Demand Falls
- Swedish battery maker looking for partners for Poland sites
- Drop in EV demand has hit battery makers across Europe
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Swedish battery maker Northvolt AB is working to halt a financial tailspin by pausing some production at its flagship factory and cutting jobs as it comes to grips with operational difficulties and a drop in demand for electric vehicles.
The initial steps of its strategic review also include seeking partners for facilities in Poland, Northvolt said Monday in a statement, without specifying the size of any workforce reductions from among its about 6,000 staff. The company has sold a Swedish site it had previously planned for making cathode material, a precursor to manufacturing batteries.