Northvolt AB, a Swedish startup in the electric vehicle battery industry, is currently facing a significant crisis due to the cancellation of a multi-billion dollar order by BMW AG in June. This cancellation has had a major impact on Northvolt, which has been a key player in Europe's electric mobility sector.

In response to these difficulties, Northvolt is now making preparations for a Chapter 11 filing, which could potentially result in the collapse of the company within six months of BMW's decision. These developments highlight the vulnerability of the electric vehicle supply chain and the significant influence that major automotive players have on emerging companies in this sector.

The situation has been further exacerbated by the challenges faced by the German automotive industry, leading to expectations of dwindling orders for Northvolt.