Northvolt Cuts 1,600 Jobs, Halts Expansion Amid EV Market Decline

Swedish battery manufacturer Northvolt announces 1,600 job cuts across three sites amid electric vehicle market slowdown.

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Northvolt suspends 30GWh expansion project at Ett factory in Skellefteå as company faces significant financial challenges.

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BMW cancels €2 billion order from Northvolt due to delivery delays, affecting company's business outlook.

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European EV market share drops from 21% to 14.4% in August, marking fourth consecutive month of decline.

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Northvolt CEO Peter Carlsson steps down last month, expressing hopes for company's recovery under new leadership.

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Northvolt restructures operations while maintaining commitment to establishing European industrial battery production.

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Company prioritizes ramping up 16GWh production capacity at Ett facility while reducing 1,000 positions in Skellefteå.

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Västerås facility faces 400 job cuts while maintaining its position as Europe's leading battery innovation campus.

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Stockholm headquarters reduces 200 corporate support positions as part of strategic review

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Swedish broadcaster SVT reports NMP chemical leaks at Skellefteå factory, with company stating incidents handled per permits.

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Lucid Gravity SUV: 440 Miles, $1.5B Lifeline, and EV Survival at Stake

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