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battery systems production site Northvolt DwaCNBC
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75% Informative
Swedish battery maker Northvolt announced Monday that it plans make some redundancies.
The firm also said it would close down, sell, or consolidate some major facilities in Europe and the U.S. Northvolt is one of Europe 's most valuable privately-held tech firms building lithium-ion batteries for the electric vehicle industry.
The battery maker cited a "challenging macroeconomic environment and our subsequent reassessment of Northvolt 's near-term priorities" as the key reasons behind its decision.
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