Clean Tech News & Views: EVs, Solar Energy, Batteries
In streamlining operations, Northvolt will initially focus on large-scale cell manufacturing whilst reducing costs and exploring future strategic partnerships for the purpose of securing its position in the global battery landscape.
Peter Carlsson, CEO and Co-Founder of Northvolt, commented: “With the strategic review now underway, we are having to take some tough actions for the purpose of securing the foundations of Northvolt’s operations to improve our financial stability and strengthen our operational performance. While conditions at this time are challenging, there remains no question that the global transition towards electrification — and the long-term outlook for cell manufacturers, including Northvolt — is strong.
In Skellefteå, Sweden, Northvolt intends to place operations at Northvolt Ett Upstream 1 cathode active material production facility into care and maintenance until further notice. This is motivated by a necessity to streamline operating costs, as well as optimize the sequencing of Northvolt Ett’s ramp-up.
In California, United States, Northvolt has already communicated its intention to integrate its subsidiary Cuberg and lithium metal technology into Northvolt Labs, Sweden.The cost-saving mechanisms necessary for Northvolt to meet its core objective of focussing on large-scale cell manufacturing will regrettably include some difficult decisions on the size of our workforce to match the needs of a reduced scale of operations. No final decisions have been made on the precise nature of any resizing.
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