Battery factory Northvolt is in great financial difficulties.
Swedish battery manufacturer Northvolt plans to lay off 1,600 employees in Sweden.
The company plans to cut 1,000 jobs in Skellefteå, 400 in Västerås and 200 in Stockholm, says the Swedish Broadcasting Company SVT according to the company’s announcement.
– We now have to focus all energy and investments on our core business, CEO Peter Carlsson said Monday in a press release.
Northvolt’s financial difficulties are caused by the decrease in demand for electric cars, rising costs and production problems.