Swedish gigafactory Northvolt to cut 1,600 jobs after BMW cancels $2.2 billion contract; "We now need to focus ...," CEO tells employees
Northvolt, a leading European battery manufacturer, will lay off 1,600 employees in Sweden following the cancellation of a major contract with BMW. The company is shifting focus to accelerate battery production at its Ett manufacturing center while facing financial challenges and difficulties in securing additional funding.