Volvo Cars subsidiary Novo Energy lays off all 75 staff
Novo Energy, owned by Volvo Cars, is laying off 75 employees because it has not yet found a new partner for its battery factory in Gothenburg.
Cars
A Transitional Year for Volvo Cars Causes the Share to Plummet
A record year that ended weakly. Now Volvo Cars is bracing for continued challenges on the car market in 2025 – and the stock plummeted on the stock exchange. It will be an intermediate year, says the company's finance chief Johan Ekdahl to TT in connection with the company's quarterly report.
Cars
Almost every third person is laid off at Novo Energy
The battery manufacturer Novo Energy in Gothenburg – partly owned by crisis-stricken Northvolt and car manufacturer Volvo Cars – is laying off 120 employees. "A tough but necessary decision", says CEO Adrian Clarke according to a press release.
Business
Volvo Cars wants to buy out Northvolt – breach of contract
Volvo Cars will exercise its right of redemption to oust crisis-stricken Northvolt from the jointly owned multi-billion project Novo Energy, according to the car manufacturer. This is because Northvolt has breached the shareholders' agreement.
Cars
