Northvolt has announced that it is moving the development of its lithium metal battery technology from California to its Northvolt Labs R&D campus in Västerås, Sweden. With this step, the company aims to more efficiently bundle research and industrialization of its battery portfolio in one location.
Adjusting the expansion strategy
As part of the move, Northvoltʼs Californian Cuberg subsidiary will be closed. The company was acquired by Northvolt in 2021 and was originally intended to drive the development of lithium metal batteries forward. As a result of the closure, all of the companyʼs 200 employees will have to be laid off. The decision is part of a strategic review undertaken by Northvolt following a number of setbacks, including production delays and the cancelation of a two-billion-euro order from BMW. Northvolt is also facing a general review of its expansion plans, leading to the potential delay or cancelation of planned projects in Sweden, Germany, and Canada. According to Northvolt CEO Peter Carlsson the companyʼs focus is on getting the Swedish battery factory in Skellefteå up and running.
Sources:
https://www.reuters.com/business/autos-transportation/battery-maker-northvolt-shift-rd-california-sweden-2024-08-20/
https://northvolt.com/articles/lithium-metal-northvolt-labs/
