Northvolt CEO Resigns after EV Battery Maker Files for Bankruptcy Protection
The chief executive of Northvolt has resigned, after the Swedish battery startup filed for bankruptcy protection in the US.Peter Carlsson, who has led Northvolt since 2016, will step aside with immediate effect, the company said on Friday. Carlsson said Northvolt,…
Northvolt to cut 20% of global staff, placing Europe’s EV battery-making ambitions at risk
Sweden’s Northvolt AB will shed 20 per cent of its global workforce and pause its expansion plans to slow cash outflows that have left the battery-making hopeful in a financial squeeze. The company, which has struggled in its mission to stand up…
Battery Giant Northvolt to lay-off Staff to cut Costs as EV Market Stalls
Swedish battery company, Northvolt, has recently revealed that it would be cutting jobs, as well as closing down or selling some sites, while others would be consolidated, in a massive cost-cutting effort. The company has said that macroeconomic uncertainties, as…
EU Approves $986 Million German State Aid For Northvolt’s Battery Plant, Matching US Subsidies
The European Commission gave the green light to a $986 million German measure aimed at bolstering Swedish sodium-ion battery-batteries company Northvolt’s initiative to build a battery production plant for electric vehicles in the country. The sum sways Northvolt’s decision towards…
Quebec Lures $5 Billion Battery Factory For Electric Cars
Northvolt, a Swedish maker of batteries for electric cars, said on Thursday that it would build a factory near Montreal after the Canadian government matched financial incentives that would have been available from the United States. The company will invest…
Swedish EV Battery Maker Raises $1.2B To Expand to North America
Northvolt, a Swedish producer of lithium-ion batteries, has raised around $1.2 billion from BlackRock and various Canadian pension plans to build new factories in North America and Europe, according to report from Reuters. Tuesday’s announcement signals the first time Northvolt has…
