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Northvolt CEO resigns as Europe’s big hope for a battery champion files for bankruptcy

  • Northvolt filed for Chapter 11 bankruptcy protection in the United States to enable it to restructure its debt and reorganise its business.
  • Co-Founder and CEO Peter Carlsson resigned but will remain as an advisor and board member.
  • The company faces $5.84 billion in debts while having only $30 million in available cash.
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