Executive summary
Northvolt, a Swedish battery maker, is planning to cut jobs and sell off one of its units due to chilling demand from Chinese electronics manufacturers. This appears to be part of the company's efforts to stay ahead in the electric vehicle (EV) market.
The struggling EV firm will scale down its operations at Voltabox, a subsidiary that provides standardised lithium-ion batteries to customers in Europe and Asia. The exact number of job cuts is not yet known, but insiders expect around 100 employees will be let go.
Northvolt to cut jobs and sell off unit to survive EV chill
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