Northvolt, Volvo joint venture Novo Energy pauses operations – lays off all employees
13 jan. 2026
10:49
Battery maker Novo Energy, founded in 2021 as a joint venture between Northvolt and Volvo Cars, is laying off all employees at its factory near Gothenburg, Sweden.
Novo Energy was previously jointly owned by Northvolt and Volvo Cars. The original plan was to build a gigafactory employing around 3,000 people, capable of supplying batteries for up to half a million cars a year.
That plan has not panned out. After Northvolt went bankrupt, Volvo Cars took over its stake and became the sole owner. Since then, the company has been searching for a new technology partner – so far without success.