Categories: Auto News

The Volvo battery division will be reduced by half

Novo Energy battery manufacturer, owned by Volvo, will fire 50 percent of workers, writes Reuters. According to insiders, a serious reduction in the state is caused by the desire to reduce expenses taking into account the bankruptcy of another Swedish company – NorthVolt. The latter was originally a co -owner of Novo Energy.

Novo Energy was created in 2021 by joint efforts of Volvo Cars and Northvolt. When Volvo was still going to completely switch to electric cars, the companies planned the construction of a large battery production plant in the Swedish Goetherge.

NOVO assures that the launch of production at the new plant remains its main long -term goal. According to the initial plan, the site should earn in 2025.

The German manufacturer of supercars will cease the existence of the clearance as that of a crossover and 700 km on the same charge: the electric Volvo ES90 Nissan will reduce the production of the most popular crossover in the United States

The position of Novo was complicated due to bankruptcy of NorthVolt, which was announced in March. The once leading manufacturer of European batteries was going to sell half of his shares in the Novo Energy company Volvo, which was supposed to become the full owner of the joint venture. This transaction is “still awaiting approval,” writes Reuters.

Volvo itself is also experiencing difficulties. Due to weak demand and growth of trade tension, Swedes have to sharply reduce expenses. So, the company is going to save 18 billion kroons ($ 1.87 billion), which will inevitably lead to a reduction in jobs.

Volvo 240 from a parallel universe

Recent Posts

Cheaper Tesla: Xiaomi launched sales of the Yu7 crossover

Xiaomi brought to the Chinese market its second car - the Yu7 Electrocros, which will…

Xiaomi Su7 Ultra turned out to be faster than Mercedes-AMG ONE on nourburgering

Pilot David Pittard Driving the prototype of the Chinese electric car passed the legendary German…

Rare machines, industrial architecture and city weekend with character

From July 5 to 6, OldScoolshow will be held at the Ryabov Manufactory - an…

In Russia, Hongqi vehicles will be manufactured

Rumors about the localization of cars of the Chinese premium markes have been going on…

The GAC GS8 Dragon crossover was appreciated in rubles

GAC is preparing to bring to the Russian market a new version of the flagship…

We are looking forward to: the hottest automobile news 2025–2029

How many new cars will appear in the coming years? We suspect, the score will…