Markus Dangelmaier has been appointed as the new CEO of Northvolt Ett AB, the sole battery cell manufacturing facility of Northvolt AB.
The company recently faced financial challenges and filed for Chapter 11 bankruptcy protection in the United States.
With only $30 million in cash reserves, the company's financial situation is precarious, allowing for just one week of sustained operations.
The previous CEO, Mark Duchesne, left his position earlier this month, signifying a significant transition for the company during its ongoing struggles.