COPENHAGEN (Reuters) -Volkswagen’s investments chief Sven Fuhrmann is set to step down from the board of Swedish battery maker Northvolt, business daily Dagens Industri (DI) reported on Monday, citing the Nordic country’s company registry.
Germany’s Volkswagen is Northvolt’s biggest owner with a stake of 21%, according to the Swedish group’s annual report for 2023.
Northvolt, once hailed as Europe’s best shot at a home-grown electric-vehicle battery champion is racing to stay afloat by slimming down and cutting jobs, hobbled by production problems, loss of a major customer contract and a lack of funding.
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
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