Northvolt said it would scale back its commitments and drive down costs in the face of a ‘challenging’ market
Europe’s leading electric car battery maker has said it will slash jobs as demand for vehicles continues to stall.
In yet another blow to the industry, Northvolt said it would scale back its commitments and drive down costs in the face of a ‘challenging’ market.
That will include ‘resizing’ its near 6,000-strong workforce. ‘These measures reflect a challenging macroeconomic environment and our subsequent reassessment of Northvolt’s near-term priorities,’ a spokesman said.
The company did not say how many jobs would be cut. The Swedish group has suffered as demand for electric cars slows and production delays plague the industry.
It was also hit when Germany’s BMW cancelled a £1.7billion order of batteries from the business earlier this year.
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