Swedish battery developer Northvolt has announced plans to let go of around a quarter of its workforce in Sweden, as announced by the company this week in a bid to respond to a “challenging macroeconomic climate.”
In a press release shared on Monday, Northvolt announced that it is facing a redundancy of 1,600 positions due to a revised scope of operations across its facilities in Sweden. Instead, the company is pivoting its focus toward ramping cell production at its first 16GWh production capacity at Northvolt Ett.
Northvolt says its efforts to reduce operations and costs to sustainable levels need to include the reduction of global workforce by roughly 20 percent, along with a reduction to total staff in Sweden by about 25 percent. The battery maker currently has between 6,000 and 6,500 total employees.
The layoffs will be comprised of around 1,000 roles at Skellefteå, 400 at Västerås, and 200 at the Stockholm site. Despite the decision, the release also notes that the redundancies are still subject to union negotiations, which are still ongoing.
Northvolt is today announcing initial steps to be taken as part of its strategic review. In streamlining operations, Northvolt will initially focus on large-scale cell manufacturing whilst reducing costs and exploring future strategic partnerships → https://t.co/gym7OJVy6N pic.twitter.com/CW8z9XQRWE
— Northvolt (@northvolt) September 9, 2024
“While overall momentum for electrification remains strong, we need to make sure that we take the right actions at the right time in response to headwinds in the automotive market, and wider industrial climate,” writes Northvolt Co-Founder and CEO Peter Carlsson. “We now need to focus all energy and investments into our core business. Success in the ramp-up of production at Northvolt Ett is critical for delivering to our customers and enabling sustainable business operations.”
Although the company had been working on expanding the Northvolt Ett plant to add an additional 30 GWh of annual capacity, it said earlier this month that it would be suspending those plans for the time being. Plans to slow programs and further expansion plans in Västerås have also been put on pause, though fundamental platforms hosted at the Northvolt Labs site will continue their focus on product development.
In Stockholm, most of the layoffs will apply to corporate support functions, as part of the larger measures to reduce its scope of operations. Despite this, Northvolt is already in discussion with union representatives on how to proceed, and it’s already started mobilizing internal resources to help support the transition of affected employees.
“Our priority is to offer as much support as possible during this time to all our employees, especially those impacted by redundancy,” said Daniela Maniaci, Northvolt’s Chief People Officer. “In supporting employees who will leave the company, we are committed to handling the process with compassion and care, and ensuring everyone receives guidance needed for their next steps.”
Tesla, Northvolt alums aim for grid battery scalability with Peak Energy
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Tesla analyst Andrew Percoco of Morgan Stanley teased the company’s dominance in its self-driving initiative, stating that its lead over competitors is “not even close.”
Percoco recently overtook coverage of Tesla stock from Adam Jonas, who had covered the company at Morgan Stanley for years. Percoco is handling Tesla now that Jonas is covering embodied AI stocks and no longer automotive.
His first move after grabbing coverage was to adjust the price target from $410 to $425, as well as the rating from ‘Overweight’ to ‘Equal Weight.’
Percoco’s new note regarding Tesla highlights the company’s extensive lead in self-driving and autonomy projects, something that it has plenty of competition in, but has established its prowess over the past few years.
He writes:
“It’s not even close. Tesla continues to lead in autonomous driving, even as Nvidia rolls out new technology aimed at helping other automakers build driverless systems.”
Percoco’s main point regarding Tesla’s advantage is the company’s ability to collect large amounts of training data through its massive fleet, as millions of cars are driving throughout the world and gathering millions of miles of vehicle behavior on the road.
This is the main point that Percoco makes regarding Tesla’s lead in the entire autonomy sector: data is King, and Tesla has the most of it.
One big story that has hit the news over the past week is that of NVIDIA and its own self-driving suite, called Alpamayo. NVIDIA launched this open-source AI program last week, but it differs from Tesla’s in a significant fashion, especially from a hardware perspective, as it plans to use a combination of LiDAR, Radar, and Vision (Cameras) to operate.
Percoco said that NVIDIA’s announcement does not impact Morgan Stanley’s long-term opinions on Tesla and its strength or prowess in self-driving.
NVIDIA CEO Jensen Huang commends Tesla’s Elon Musk for early belief
And, for what it’s worth, NVIDIA CEO Jensen Huang even said some remarkable things about Tesla following the launch of Alpamayo:
“I think the Tesla stack is the most advanced autonomous vehicle stack in the world. I’m fairly certain they were already using end-to-end AI. Whether their AI did reasoning or not is somewhat secondary to that first part.”
Percoco reiterated both the $425 price target and the ‘Equal Weight’ rating on Tesla shares.
Elon Musk
Donald Trump turns to Elon Musk and Starlink amid Iran internet blackout
Donald Trump has stated that he plans to speak with SpaceX CEO Elon Musk about restoring internet access in Iran.
Donald Trump has stated that he plans to speak with SpaceX CEO Elon Musk about restoring internet access in Iran, as authorities in the country implement an internet blackout amid nationwide anti-government protests.
Trump points to Starlink
Speaking to reporters in Washington, Trump said Musk would be well-suited to help restore connectivity in Iran, citing his experience operating large-scale satellite networks, as noted in a Reuters report. “He’s very good at that kind of thing, he’s got a very good company,” Trump said.
Iran has experienced a near-total internet shutdown for several days, severely limiting the flow of information as protests escalated into broader demonstrations against the country’s rulers.
Starlink has previously been used in Iran during periods of unrest, allowing some users to access the global internet despite government blocks. Neither Musk nor SpaceX immediately commented on Trump’s remarks, but Musk has publicly supported efforts to provide Starlink access to Iranians during earlier periods of unrest.
Renewed Trump–Musk ties
Trump’s comments come amid a thaw in his previously strained relationship with Musk. The two had a public falling-out last year over domestic policy disagreements but have since appeared together publicly, including at Trump’s Mar-a-Lago resort. The renewed ties now intersect with foreign policy, as Starlink has become a strategic tool in regions facing censorship or conflict.
The satellite service has also played a prominent role elsewhere, most notably in Ukraine, highlighting both its potential impact and the political sensitivities surrounding its use. In Iran, Starlink support previously followed coordination between Musk and U.S. officials during protests in 2022.
The current internet blackout in Iran has drawn international attention, with rights groups estimating hundreds of deaths and thousands of arrests since demonstrations intensified late last year. Iranian authorities have not released official casualty figures, and outside verification remains limited due to restricted communications.
News
Tesla China’s domestic sales fell 4.8% in 2025, but it’s not doom and gloom
Despite the full-year dip, Tesla finished the year with record domestic sales in December.
Tesla posted 625,698 retail vehicle sales in China in 2025, marking a 4.8% year-on-year decline as the EV maker navigated an increasingly competitive EV market and a major production transition for its best-selling vehicle.
Despite the full-year dip, Tesla finished the year with record domestic sales in December.
Retail sales slip amid Model Y transition
Tesla’s 2025 retail sales in China were down from 657,102 units in 2024, when the company ranked third in the country’s new energy vehicle (NEV) market with a 6.0% share. In 2025, Tesla’s share slipped to 4.9%, placing it fifth overall, as noted in a CNEV Post report.
Part of the decline seemed tied to operational disruptions early in the year. Tesla implemented a changeover to the new Tesla Model Y in the first quarter of 2025, which required temporary production pauses at Giga Shanghai. That downtime reduced vehicle availability early during the year, weighing on the company’s retail volumes in China and in areas supplied by Giga Shanghai’s exports.
China remained one of Tesla’s largest markets, accounting for 38.24% of its global deliveries of 1.64 million vehicles in 2025. However, the company also saw exports from Giga Shanghai fall to 226,034 units, down nearly 13% year-on-year. It remains to be seen how much of this could be attributed to the Model Y changeover and how much could be attributed to other factors.
Strong December 2025 finish
While the full-year picture showed some contraction, Tesla closed 2025 on a high note. According to data from the China Passenger Car Association (CPCA), Tesla China delivered a record 93,843 vehicles domestically in China in December, its highest monthly total ever. That figure was up 13.2% from a year earlier and 28.3% higher than November.
The surge was driven in part by Tesla prioritizing domestic deliveries late in the year, allowing buyers to lock in favorable purchase tax policies. In December alone, Tesla captured 7.0% of China’s NEV market and a notable 12.0% share of the country’s battery-electric segment.
On a wholesale basis, Tesla China sold 851,732 vehicles in 2025, down 7.1% year-on-year. From this number, 97,171 were from December 2025 alone. Tesla Model 3 wholesale figures reached 312,738 units, a year-over-year decrease of 13.12%. The Tesla Model Y’s wholesale figures for 2025 were 538,994 units, down 3.18% year-over-year.
Tesla analyst teases self-driving dominance in new note: ‘It’s not even close’
Donald Trump turns to Elon Musk and Starlink amid Iran internet blackout
