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Northvolt to cut costs, explore strategic partnerships
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Northvolt to cut costs, explore strategic partnerships
Sep 9, 2024 7:23 AM

STOCKHOLM, Sept 9 (Reuters) - Swedish battery maker

Northvolt said on Monday it would cut costs and explore future

strategic partnerships while focusing on its large-scale cell

manufacturing as the company continues to scale back its rapid

expansion.

The announcement follows a major review of Northvolt's

strategy intended to refocus its business following a series of

setbacks such as production delays and the cancellation of a

large order by Germany's BMW.

"These measures reflect a challenging macroeconomic

environment and our subsequent reassessment of Northvolt's

near-term priorities," the company said in a statement.

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