STOCKHOLM (Reuters) - Battery maker Northvolt will consolidate and shift development of lithium-metal battery technology to its R&D hub in Vasteras, Sweden, from California, the company said on Tuesday.
The decision comes as the company is engaged in a strategic review to refocus its expansion plans after experiencing a series of setbacks such as production delays and a customer canceling an 2 billion euro order.
"The transfer reflects a strategic move to consolidate the R&D and industrialization of Northvolt's cell product portfolio ... into one location," it said in a statement.
Northvolt acquired California battery technology company Cuberg in 2021, a 25-staffer operation that has since grown to over 200 and focused on developing lithium-metal battery technology.
Northvolt said it had encouraged workers at the unit to apply to open positions in other arms of Northvolt as part of the shift.
(Reporting by Marie Mannes; editing by Niklas Pollard)
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