EV slump has battery maker rethinking strategy

Northvolt AB may slow its battery projects, the latest in a line of industry reassessments after the transition to electric cars cooled.

- RAFAELA LINDEBERG AND MONICA RAYMUNT

The Swedish manufacturer could push out the ramp-up timelines at its four major sites, chief executive officer Peter Carlsson said Tuesday.

Aside from its most advanced plant in northern Sweden, the company is developing a factory with Volvo Car AB near Gothenburg and a site in Heide, Germany.

It also committed to establishing a cell plant in Montreal.

Northvolt is examining its longterm strategy “both from a capital allocation point of view” as well as working out “realistic time plans for these projects between the customers,” Carlsson said.