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Northvolt CEO Resigns As Europe's Big Hope For A Battery Champion Files For Bankruptcy

23 Nov 2024 | Abstracted from CNBC

"Northvolt said it would continue functioning as normal during the restructuring process, which is expected to finalize in the first quarter of next year...the reorganization of the company would help it access approximately $245 million in new financing, totaling around $145 million in cash and $100 million debtor-in-possession financing...Northvolt Ett, the company’s flagship battery gigafactory...in north Sweden...will remain operational."

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