Battery maker Northvolt to cut 1,600 jobs in Sweden

General view outside the Northvolt facility in Vasteras, Sweden, September 29, 2021. Reuters-Yonhap

Swedish battery maker Northvolt plans to lay off 1,600 employees in Sweden, including 1,000 positions at its Northvolt Ett factory in Skelleftea in the north of the country, the cash-strapped company said on Monday.

The group said it would suspend plans for a large expansion of Northvolt Ett and will now focus its resources on accelerating production of battery cells at the plant, prioritising commitments to its current automotive customers.

Northvolt had over 5,800 employees at the end of 2023 according to its annual report for 2023.

The company said on Monday it will focus on the ramping up of the first 16 GWh annual battery cell production capacity at Northvolt Ett while shelving a construction project that had aimed at increasing its capacity by another 30 GWh. (Reuters)