Staff from the National Archeology Office hang photos of items found on a construction trailer during a major archaeological survey of the Northvolt site.
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Sweden’s Northvolt said on Wednesday that the head of its main plant – Europe’s first homegrown lithium-ion battery gigafactory – would resign immediately.
This comes shortly after the cash-strapped company announced plans to reduce its headcount in Sweden by about 25% as part of major cost-cutting measures.
The company said in a statement that Northvolt Ett CEO Mark Duchesne will be temporarily replaced by Angéline J. Bilodeau, the company’s vice president of North American operations.
The position will be retained until the end of the year as it seeks to permanently replace Northvolt Ett’s chief executive, it added.
Headquartered in Stockholm, Sweden, Northvolt is one of Europe’s most valuable private technology companies and produces lithium-ion batteries for the electric vehicle industry. It has partnerships with a number of major European carmakers, including Volkswagen and Volvo.
in a renew In a statement issued on September 23, Northvolt said that following the initial steps taken in the strategic review, the company has revised the scope of its operations in Sweden “to ensure that its resources are focused on accelerating production of Northvolt Ett’s large-scale battery manufacturing” “. “
Northvolt said the strategic move would require the company to cut a total of 1,600 jobs in Sweden.
Workers walk on the site of the Northvolt Ett factory in Skelleftea, northern Sweden, on February 23, 2022.
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In addition to the layoff plans, Northvolt said at the time that it would suspend Northvolt Ett’s large-scale expansion plans, noting that the project was originally intended to provide an additional 30 gigawatt-hours of annual battery manufacturing capacity.
On Tuesday, Northvolt subsidiary File for bankruptcy The update highlights the group’s deepening financial woes following the decision to halt expansion work.
Separately, Swedish carmaker Volvo Cars announced on Wednesday that deputy chief executive Björn Annwall will resign from his current role as part of a management reshuffle.
Volvo Cars’ restructuring comes shortly after the company abandoned its immediate goal of selling only electric cars, citing the need to be “pragmatic and flexible” amid changing market conditions and cooling demand.
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