It has been nearly 10 years since Volvo discontinued the XC70, an off-road-styled crossover wagon based on the V70. However, ...

Novo Energy, the battery subsidiary of Swedish automaker Volvo Cars, will terminate 50% of its workforce-approximately 150 employees-as part of a drastic cost-cutting strategy triggered by the ...

Layoffs at Volvo and its battery firm Novo Energy highlight the uncertain economic conditions automakers face in 2025.

Novo Energy, the battery subsidiary of Swedish car manufacturer Volvo Cars, is cutting every second job. This is a reaction ...

Volvo Cars' battery venture Novo Energy has announced a workforce reduction and organisational changes, cutting 50% of its ...

Volvo Cars' battery company Novo Energy said on Monday it will cut its workforce by 50% to reduce costs after evaluating its ...

Novo Energy, a Volvo Cars venture, plans a 50% workforce reduction post evaluation, due to Northvolt's bankruptcy. Despite efforts to secure a new partner, current economic conditions hinder ...

Northvolt and Volvo Cars formed Novo Energy in 2021 to build a dedicated battery factory in Gothenburg on Sweden's west coast. The joint venture already in January began cost-cutting measures ...

However, demand dropped sharply after Northvolt halted its factory expansion and began laying off staff. By the end of November, 156 apartments were listed. Since then, this number has continued to ...

The firm discontinued sales this month of the products, including Japanese government bonds repackaged into loans, a representative for the joint venture between Mitsubishi UFJ Financial Group Inc.