11 votes

Swedish battery company Northvolt has announced it would be laying off a large part of its workforce and selling or consolidating several sites as the electric vehicle market slows down

Posted by mycketforvirrad
Tags: sweden, automotive, vehicles.electric, cars, business, storage.energy, batteries, manufacturing, factories, work, employees, redundancies, demand.declining, cost cutting, northvolt, author.indrabati lahiri, source.euronews
https://www.euronews.com/business/2024/09/10/battery-giant-northvolt-to-lay-off-staff-to-cut-costs-as-ev-market-stalls

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Title
Battery giant Northvolt to lay-off staff amid EV market slowdown
Published
Sep 10 2024
Word count
525 words

1 comment

  1. adutchman
    Link
    Sounds to me like they scaled up too qucikly and then got hot by the tarrifs. In the end of course, they will be fine because the tragectory of EVs is clear, but it's still a shame they are...

    Sounds to me like they scaled up too qucikly and then got hot by the tarrifs. In the end of course, they will be fine because the tragectory of EVs is clear, but it's still a shame they are scaling down significantly when you would want them to scale up and profit of economies of scale in order to get battery prices down

    5 votes