Swedish electric car battery maker Northvolt AB announced on Monday that it will cut 1,600 jobs as part of its revised scope of operations in Sweden. The job cuts will be split among three Swedish cities, with 1,000 positions being cut in Skelleftea, 400 in Vasteras and 200 in Stockholm.
"While overall momentum for electrification remains strong, we need to make sure that we take the right actions at the right time in response to headwinds in the automotive market, and wider industrial climate. We now need to focus all energy and investments into our core business," Northvolt Chief Executive Officer and Co-Founder Peter Carlsson said and added that the decisions the company is making, "however tough, are required for Northvolt's future."
The downsizing of Northvolt's workforce follows the company's efforts to focus on the first 16 gigawatt-hour (GWh) phase of Northvolt Ett., which is expected to increase production levels.
