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.