Volvo's subsidiary NOVO Energy announced a suspension of operations.

On January 13, NOVO Energy, the battery company under Volvo Cars, issued a statement saying that "the company cannot proceed with operations as planned until a new technology partner is confirmed." As a result, NOVO Energy plans to lay off employees, affecting all positions within the company. The company stated that it has notified the relevant trade unions and submitted notices of dismissal for a total of 75 positions to the Swedish labor market management agency.