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Northvolt said it would scale back its commitments and cut costs in the face of a “challenging” market
Europe’s top electric car battery maker has said it will cut jobs as demand for vehicles remains stagnant.
In another blow to the industry, Northvolt said it would scale back its commitments and cut costs in the face of a “challenging” market.
This will include a “rightsizing” of its workforce of almost 6,000 people. “These measures reflect a challenging macroeconomic environment and our subsequent reassessment of Northvolt’s short-term priorities,” a spokesperson said.
The company did not say how many jobs would be cut. The Swedish group has suffered from slowing demand for electric cars and production delays affecting the industry.
It was also hit when Germany’s BMW cancelled a £1.7bn battery order with the company earlier this year.
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