The lithium-ion battery gigafactory in Endicott, operated by iM3NY, laid off most of its workforce in a recent move aimed at conserving financial resources. According to Co-Founder Shailesh Upreti, the layoffs took place following a staff meeting on Monday and followed a smaller layoff the previous week.
Once envisioned as a key player in establishing Endicott as a center for U.S. battery production, iM3NY employed around 70 people as of February, with roles spanning both office and prototype battery manufacturing positions. The financial difficulties stem from an ongoing dispute with former partner Magnis Energy Technologies, an Australian company that had been instrumental in securing funding.
Upreti, who is also CEO of C4V, the technology rights holder, confirmed to News 34 that a lawsuit has been filed against Magnis, alleging the firm blocked new investment efforts last year. Despite these challenges, Upreti remains committed to the region’s battery industry and notes that recent certifications could enable iM3NY to scale production once additional funding is secured.
