Northvolt’s chief executive has resigned a day after Europe’s big battery hope filed for bankruptcy in the US.
Peter Carlsson took responsibility for the dramatic collapse during a town-hall meeting with employees on Friday morning, the Stockholm-based company said.
Northvolt was Europe’s best-funded start-up, having raised more than $15bn from investors and governments, but was left with just $30mn in cash — enough to operate for a week — before its bankruptcy filing under US Chapter 11 rules that gives it protection from creditors.
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