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Oregon-based battery system integrator Powin faces rising tariffs as it imports lithium iron phosphate (LFP) battery components from China. Oregon-based LFP battery supplier Powin has filed for Chapter 11 bankruptcy protection in New Jersey. Last week, the battery business notified local and state officials of a potential cessation of business operations, warning that almost 250 staff, including senior executives, could be laid off if business conditions did not improve by July 28. Powin was required to issue the notice at least 60 days ahead of planned closures or layoffs, as an employer with at least 100 staff. |
