Northvolt, a key player in Europe’s efforts to build an automotive battery industry that can compete with global rivals, has announced plans to cut 1,600 jobs at its base in Sweden, amid sluggish demand for electric vehicles (EV) and stiff competition from Chinese producers.
The cuts, amounting to roughly 20 percent of Northvolt’s global workforce, were announced in a Sept. 23 press release, which cited a “challenging macroeconomic climate” that was forcing Europe’s biggest hope in the EV battery industry to adjust its ambitions and narrow the scope of its operations.
