Swedish battery developer Northvolt has announced that it is moving its aviation-focused subsidiary Cuberg from California, United States, to Sweden.
Northvolt acquired Cuberg, a startup founded by Stanford University researcher Richard Wang, in 2021 with the idea of diversifying away from its automotive business and expand into new promising markets such as aviation.
Northvolt’s core business is in the Lithium-Ion batteries used by most existing electric cars. However, the acquisition of Cuberg also gave Northvolt the opportunity to get a toehold in the Lithium-Metal, a promising advanced battery technology which is seen as key for the future development of the nascent electric aviation industry.
In February 2024, AeroTime attended the unveiling of Cuberg’s new expanded industrial facility in San Leandro, California. During this event, Northvolt also announced a leadership change, with Shauna McIntyre taking over from Wang.
The fate of that facility is not entirely clear. However, it is indicative that all Cuberg employees in the Bay area have been asked to re-apply for other jobs within the Norhvolt group, either in Europe or at the group’s North American HQ, located in Montreal, Québec.
This decision appears to be an attempt by Northvolt to scale down its investments after several recent setbacks, such as the cancellation of a major €2 billion contract with German automaker BMW and the posting a €1.2 billion loss in 2023.
In a press release issued on August 20, 2024, the Swedish company said that it will continue its research in the field of Lithium-Metal batteries, but from Northvolt Labs, its R&D center in Västerås, Sweden.
