GE Vernova expects USD-300m EBITDA loss at wind unit for Q3
Sep 13, 2024 14:38 CESTSwedish battery manufacturer Northvolt has decided to shift the development of its next-generation lithium-metal battery (LMB) technology from California to its research and development (R&D) campus in Sweden, a move that will result in nearly 200 job cuts.
More specifically, Northvolt’s decision affects 196 employees, according to a WARN Report filed with California’s Employment Development Department.
“The transfer reflects a strategic move to consolidate the R&D and industrialization of Northvolt’s cell product portfolio -- featuring lithium-ion, sodium-ion and lithium-metal -- into one location, where future development of the technologies benefits from a platform of expertise and capabilities that is unmatched in the Western world,” a recent press statement says.
The LMB technology has been developed in San Francisco through Northvolt's subsidiary Cuberg, an entity which the Nordic firm took over in 2021.
Cuberg employees have been encouraged to apply for open positions matching their skillset across Northvolt, including Northvolt Labs and Northvolt Ett, or Northvolt North America, located in Montreal, Canada.
GE Vernova expects USD-300m EBITDA loss at wind unit for Q3
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