Chinese EV battery maker SVOLT has announced it will shutter its European operations in January and abandon plans for two production facilities, blaming slumping sales across Europe and rising trade tensions for the abrupt pullout.
Originally spun off from Great Wall Motors’ battery division, SVOLT now aims to refocus its European presence around technical services, warehousing, engineering support, logistics, and maintenance. In other words, it’s downsizing from ambitious manufacturing to just enough infrastructure to maintain a foothold in the region, but the shift signals a major retreat from its initial production-heavy aspirations.
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