Swedish battery maker Northvolt, cuts workers amid slowing EV sales, WSJ reports

Swedish battery maker Northvolt is cutting workers amid slowing EV sales in Europe and trade concerns, Dominic Chopping writes for the Wall Street Journal. With government incentives in Europe dwindling, a slow rollout of charging stations, and steady Chinese competition, Northvolt is reassessing its growth strategy, added the WSJ story. “With the strategic review now underway, we are having to take some tough actions for the purpose of securing the foundations of Northvolt’s operations to improve our financial stability and strengthen our operational performance,” CEO Peter Carlsson said, according to the Wall Street Journal story…Companies in the EV, EV battery, and EV charging space include: Tesla (TSLA), Lucid Group (LCID), Li Auto (LI), Nio (NIO), Ford (F), Rivian Automotive (RIVN), Albemarle (ALB), FMC Corporation (FMC), Blink Charging (BLNK), and Volkswagen (VWAGY).