Volvo Cars has stopped operations at its battery startup Novo Energy as it struggles to find a new partner and deal with high costs. The project has been uncertain since the collapse of Northvolt, which had co founded Novo with Volvo, and the slowing demand for electric cars has added to the problem. As a result, the remaining 75 jobs at Novo are being cut. Volvo says talks with potential battery partners are still ongoing, but stronger financial support from the European Union is needed to restart the project.
Volvo Cars Pauses Novo Battery Project as Partner Search Drags on
