Northvolt Faces Bankruptcy Amid Leadership Change and Restructuring Efforts

Northvolt's CEO, Peter Carlsson, steps down as the company seeks to raise up to $1.2 billion following Chapter 11 bankruptcy filing. The battery maker faces production challenges and financial strain, impacting its plans to expand in Germany and Cana

By: Devdiscourse

Nov 22 2024
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Northvolt Faces Bankruptcy Ami

Northvolt's CEO, Peter Carlsson, has announced his resignation just a day after the Swedish battery maker filed for U.S. Chapter 11 bankruptcy. Once seen as Europe's leading electric-vehicle battery hope, Northvolt now struggles with production setba... [588 chars]