The CEO of Northvolt, Peter Carlsson, today resigned amongst ongoing fallout from the Swedish EV battery maker’s U.S. Chapter 11 bankruptcy filing.

Northvolt, a Swedish maker of lithium-ion batteries that once was valued by venture capitalists at nearly $12 billion, has filed for bankruptcy. Why it matters This is a massive blow to Europe's EV manufacturing goals,

Northvolt transformed in a matter of months from Europe's best shot at a homegrown electric-vehicle battery champion to a struggling company.