Overview
- NOVO Energy said operations, including construction of the Gothenburg cell plant, are paused until a new technology partner is secured, with no timeline or structure for a restart.
- NOVO was founded in 2021 as a Volvo–Northvolt venture; Volvo assumed full control after Northvolt’s bankruptcy in March 2025.
- The Gothenburg facility, envisioned at up to 50 GWh to supply Volvo and Polestar, now sits idle without manufacturing equipment installed.
- Chair Alexander Petrofski said talks with multiple battery makers continue, citing carrying costs as the reason for the pause and stressing the need for EU credit guarantees and clear support.
- The European Commission announced €1.5 billion in interest‑free loans in late 2025, while other Swedish battery assets face divergent paths, including Lyten’s bid to revive Northvolt’s Skellefteå site and delays at Volvo Group’s Mariestad project.