It comes shortly after the cash-strapped company announced plans to reduce its workforce by about 25% in Sweden as part of a major cost-cutting drive.
Sweden's Northvolt on Wednesday said the head of its main plant, Europe's first homegrown gigafactory for lithium-ion battery cells, will step down with immediate effect.
Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately held tech firms that builds lithium-ion batteries for the electric vehicle industry. Sweden's Northvolt on Wednesday said the head of its main plant, Europe's first homegrown gigafactory for lithium-ion battery cells, will step down with immediate effect.Mark Duchesne, CEO of Northvolt Ett, will be replaced on an interim basis by Angéline J. Bilodeau, the firm's vice president of operations in North America, the company said in a statement.
Alongside plans to lay off staff, Northvolt said at the time that it would suspend plans for a sizable expansion of Northvolt Ett, noting the project had been intended to provide an additional 30 gigawatt hours of annual cell manufacturing capacity.The reorganization at Volvo Cars comes shortly after the firm scrapped its near-term goal of selling only electric vehicles, citing a need to be"pragmatic and flexible" amid changing market conditions and cooling demand.
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