On 23 September 2024, Swedish lithium-ion battery manufacturer Northvolt announced that it would make 1600 of its 6500 employees redundant “to match the needs of a reduced scale of operations” to meet “a challenging macroeconomic climate”. See CNBC among others for analysis.

Expectations of growth in the global electric vehicle (EV) battery market have recently been lowered. This is driven in part by the reduction of subsidies for EVs in Europe and a weaker overall growth in vehicle sales.

For analysis of EV market predictions see Autovista24.

Northvolt manufactures with clean energy, aiming to deliver batteries with a 90% lower carbon footprint compared to those made using coal energy.