Northvolt's US unit files for Chapter 11 bankruptcy protection as CEO Peter Carlsson, who has led the startup since 2016, leaves post in what has become a crisis for the European battery industry.

Northvolt has been looking for money since mid-last year and filed for Chapter 11 in the U.S. in November with $5.84 billion in debt in one of the largest bankruptcies of 2024.

Northvolt filed for bankruptcy in Sweden on March 12, making it one of the country's largest corporate failures and effectively ending Europe's best hope of developing a rival to challenge China.

Several foreign parties have placed binding bids for Northvolt's bankrupt estate. At the same time, former employees have ...

Starting battery production in Skellefteå would align well with the plans of tech company Lyten. Yet, for now, they remain ...

Northvolt Ett Expansion was created to manage the buildout of a gigafactory in northern Sweden, but that project was shelved as part of a cost-saving plan. Skip to Main Content.