Peter Carlsson, the CEO and co-founder of Northvolt AB, has stepped down shortly after the company filed for bankruptcy protection as part of a restructuring effort.
Northvolt, a Swedish battery manufacturer, had aimed to become a leader in European battery production under Carlsson's leadership since its establishment in 2016.
The company had successfully raised significant amounts of debt and equity. Now, Northvolt is facing a critical phase as it works to stabilize operations and address financial challenges.
Carlsson's departure is a significant development for the company, which has played a crucial role in the electric vehicle supply chain.