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German economy continues to shrink
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German economy continues to shrink

The EU's economic engine, the German economy, contracted for the second year in a row in 2024, according to the country's statistics agency Destatis. And no major recovery for the export-dependent economy is expected to come in 2025
The meeting may mark the beginning of the end for Northvolt
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The meeting may mark the beginning of the end for Northvolt

After a 2024 marked by skyrocketing losses, production problems, massive layoffs, and bankruptcy protection, the owner of the battery manufacturer Northvolt will now have their say. An extraordinary general meeting will decide today whether it's time to give up the attempts to save the company
Another fateful day for Northvolt
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Another fateful day for Northvolt

The crisis-stricken battery manufacturer Northvolt - with thousands of employees in Skellefteå and Västerås - is facing yet another day of destiny. The owners are gathering tomorrow to decide on continued operations or liquidation
Northvolt owners summoned to meeting about the future
Business News

Northvolt owners summoned to meeting about the future

The crisis-stricken battery manufacturer Northvolt has called its owners to an extraordinary general meeting. At the meeting, which is to take place on January 8, 2025, the owners will confirm that the operations will continue, according to Northvolt's press chief Erik Zsiga
Volkswagen to cut 35,000 jobs in Germany
Business News

Volkswagen to cut 35,000 jobs in Germany

Volkswagen has, after a long struggle, agreed with the unions on reduced production in factories in Germany to avoid closures and mass layoffs. According to the company, the workforce will simultaneously be radically reduced within five years
Second wave of major strike awaits Volkswagen
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Second wave of major strike awaits Volkswagen

The already heavily pressured car group Volkswagen (VW) is facing a second wave of warning strikes that will be launched at nine factories in Germany on Monday.
VW CEO: The situation is serious
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VW CEO: The situation is serious

The union demands in the negotiations about historic cutbacks in Germany are not enough, according to Oliver Blume, CEO of crisis-stricken German Volkswagen (VW).
Heavy pressure downward on car stocks
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Heavy pressure downward on car stocks

Car manufacturers' shares are being heavily pressed down on European stock exchanges, also on the Stockholm Stock Exchange where Volvo Cars is falling by 2. 4 percent
Metal Workers Union Forces VW with Major Strike
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Metal Workers Union Forces VW with Major Strike

The German car giant Volkswagen's plans for cutbacks are facing strong union resistance. Now, the powerful trade union IG Metall is calling for a "warning strike"
He becomes new finance chief at Scania
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He becomes new finance chief at Scania

The Södertälje-based truck manufacturer Scania has recruited Do Young Kim as new CFO. He is expected to take office on 1 February 2025, writes Scania in a press release
Volkswagen leaves Chinese province
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Volkswagen leaves Chinese province

Rivian gets giant loan for new electric car factory
Business News

Rivian gets giant loan for new electric car factory

The American electric vehicle manufacturer Rivian has received approval for a conditional loan of 6. 6 billion dollars (equivalent to 73 billion kronor) from a support program at the US Department of Energy
Major Shareholders Expect a Northvolt Shock
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Major Shareholders Expect a Northvolt Shock

Northvolt's major shareholders are expecting a significant blow in the reconstruction that the crisis-stricken battery manufacturer wants to implement. The largest owner, German Volkswagen (VW), has written down most of the value of its holding, reports Reuters citing sources
He still believes in the German Northvolt factory
Business News

He still believes in the German Northvolt factory

Germany's Minister of Economy and Vice Chancellor Robert Habeck is "cautiously optimistic" about crisis-stricken Northvolt's plans for a factory in Germany. Northvolt's problems must be taken seriously, but they are technically possible to solve, according to Habeck
The VW Union Takes a Stand Against Factory Closures
Business News

The VW Union Takes a Stand Against Factory Closures

Trade union leaders at German Volkswagen (VW) are proposing new cost-cutting measures of 1. 5 billion euros (equivalent to 17
VW: In close contact with Northvolt
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VW: In close contact with Northvolt

Northvolt in crisis - "Dialogue is ongoing"
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Northvolt in crisis - "Dialogue is ongoing"

The crisis-stricken battery manufacturer Northvolt is considering applying for bankruptcy protection or bankruptcy, according to several media outlets citing sources. "The dialogue about future financing is ongoing," writes the company's press spokesperson Erik Zsiga to TT about the reports
Northvolt sells factory in California
Business News

Northvolt sells factory in California

The battery manufacturer Northvolt is selling a factory facility in San Leandro, California, to the American battery company Lyten. No price tag has been disclosed by Northvolt, whose hunt for new billions to address short- and long-term challenges continues
Largest Owner Leaves Northvolt's Board
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Largest Owner Leaves Northvolt's Board

Volkswagen wants to cut wages by ten percent
Business News

Volkswagen wants to cut wages by ten percent

Significantly reduced profit for Volkswagen
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Significantly reduced profit for Volkswagen

The Trade Union: Volkswagen Wants to Close Several Factories
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The Trade Union: Volkswagen Wants to Close Several Factories

Volkswagen is planning to close at least three factories in Germany, according to the car group's union.
Full speed in the factory – but order intake is plummeting
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Full speed in the factory – but order intake is plummeting

Record production and deliveries and a significant profit increase characterize the third quarter for truck manufacturer Scania. However, order intake points sharply downward
Europe's Engine Stutters – This Is How It Affects Sweden
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Europe's Engine Stutters – This Is How It Affects Sweden

It is Sweden's most important trading partner and an economic engine for Europe. But Germany's economy is stagnant – which increases the risks for Swedish industry
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