Northvolt, Europe’s leading homegrown lithium-ion battery maker, announced on Wednesday that Mark Duchesne, the CEO of its flagship plant, Northvolt Ett, has stepped down with immediate effect. This leadership change comes shortly after the company revealed plans to reduce its workforce in Sweden by 25%, a move aimed at addressing financial pressures through a comprehensive cost-cutting strategy.
The interim CEO of Northvolt Ett will be Angéline J. Bilodeau, the company’s vice president of operations in North America, who will oversee the gigafactory until the end of the year as the search for a permanent replacement continues.
Northvolt, headquartered in Stockholm, has made significant strides in Europe’s electric vehicle battery sector, partnering with major automakers like Volkswagen and Volvo. However, its recent strategic review has led to the revision of operations in Sweden, focusing on accelerating large-scale cell manufacturing at Northvolt Ett. As part of this effort, the company has cut 1,600 jobs across its Swedish operations.
This is a challenging time for Northvolt, as it continues to navigate financial difficulties while maintaining its position as a crucial player in Europe’s EV battery industry.
