Category: Batteries

Northvolt battery maker files for bankruptcy

Northvolt lithium-ion battery cellSwedish battery firm Northvolt filed for U.S. Chapter 11 bankruptcy protection Thursday, with CEO Peter Carlsson stepping down the following day. Northvolt needs to raise between $1 billion and $1.2 billion to restore itself to full operations, Carlsson told Reuters and other media Friday. On Thursday, the company said it only had enough cash to...