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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.

A Transitional Year for Volvo Cars Causes the Share to Plummet

Volvo buys out Northvolt from Novo Energy

Volvo Cars has reached an agreement with Northvolt to take over the entire ownership of battery manufacturer Novo Energy, according to a press release. Since Northvolt has ended up in financial difficulties, the battery manufacturer has gradually withdrawn from the ownership of Gothenburg-based Novo Energy.

Volvo buys out Northvolt from Novo Energy

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.

Almost every third person is laid off at Novo Energy

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.

Volvo Cars wants to buy out Northvolt – breach of contract

Volvo Cars: No Money to Northvolt

The car manufacturer Volvo Cars does not intend to participate in the financing that could save the crisis-stricken battery manufacturer Northvolt from bankruptcy, reports the news agency Bloomberg. Absolutely not, says Volvo Cars' CEO Jim Rowan.

Volvo Cars: No Money to Northvolt

Northvolt company seeks billion grant for factory

Volvo Cars and Northvolt's jointly owned company Novo Energy wants 12. 7 billion kronor from the state for the construction of the battery factory in Torslanda, Gothenburg, reports [Dagens Nyheter.

Northvolt company seeks billion grant for factory