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Our Next Energy (ONE) Layoffs: 25% Staff Cuts at Electric Vehicle (EV) Battery Startup

November 27, 2023 by Joe Panettieri

Our Next Energy (ONE) layoffs will involve 25% staff cuts at the electric vehicle (EV) battery startup, Reuters reported.

ONE, founded in 2020 by several Apple veterans, is based in Novi, Michigan. The company develops battery technology and energy equipment for electric vehicles (EV) and the electric grid. Our Next Energy raised $300 million in Series B funding, led by Fifth Wall and Franklin Templeton, in February 2023. The Oman Investment Authority (OIA) also invested in ONE around September 2023, reports suggested.

Our Next Energy cited "market conditions" as reason for the layoffs, but the company continues to focus on establishing its gigafactory in Michigan and to develop a North American supply chain for batteries, Reuters said.

The layoffs arrive only one week after the company partnered with GE Verona on various battery modules for GE Verona's solar and storage business projects in the United States.

EV Battery and EV Charging Infrastructure Layoffs

Multiple EV battery makers and EV charging infrastructure providers have suffered layoffs in recent weeks. Examples include:

  • November 2023: LG Energy Solution layoffs will impact roughly 170 employees between December 2023 and January 2024, The Holland Sentinel of Michigan reported. The business develops EV (electric vehicle) batteries for U.S. automakers. Key customers include Volvo, Stellantis, Ford and General Motors.
  • November 2023: Tritium DCFC is planning layoffs and an Australia factory closure. The goal: Achieve a path to profitability in 2024, the fast-growing but money-losing electric vehicle (EV) charging technology company said.
  • September 2023: ChargePoint layoffs hit 10% of its staff and reorganized operations amid weaker-than-expected quarterly revenue guidance from the electric vehicle (EV) charging station network company.

Sustainability and Green Technology Jobs: Climate Tech Training Programs

Despite those anecdotal job cuts, demand for green jobs in the United States has grown roughly 50% since 2019, according to Lightcast.

In response, companies such as AccentureEYGoodwill and Microsoft have launched green jobs training programs.

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