COPENHAGEN :Northvolt's CEO Peter Carlsson is stepping down, the Swedish maker of battery cells for electric vehicles said on Friday, one day after the group filed for U.S. Chapter 11 bankruptcy protection.
FILE PHOTO: Northvolt CEO Peter Carlsson poses for a picture at the company's offices in Stockholm, Sweden, March 7, 2017. REUTERS/Niklas Pollard/File PhotoCOPENHAGEN :Northvolt's CEO Peter Carlsson is stepping down, the Swedish maker of battery cells for electric vehicles said on Friday, one day after the group filed for U.S. Chapter 11 bankruptcy protection.
Northvolt on Thursday filed for Chapter 11 bankruptcy protection in the United States, dealing a blow to Europe's hopes that its most developed battery player would reduce Western car makers' reliance on Chinese rivals. Northvolt, which employs around 6,600 staff across seven countries, in its Chapter 11 filing said it expects to complete the restructuring by the first quarter of 2025.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Northvolt has considered US bankruptcy protection, sources saySTOCKHOLM : Swedish battery maker Northvolt has been discussing the possibility of bankruptcy protection in the United States as one of several options for the cash-strapped company to survive, two people with knowledge of the matter told Reuters.
Read more »
3 days in Copenhagen, Denmark: What to eat, shop & seeCopenhagen seems to have synthesised the art of living well into every layer of the city.
Read more »
Vatican unveils AI services for St Peter's Basilica ahead of JubileeVATICAN CITY — The Vatican launched on Monday (Nov 11) new Artificial Intelligence-enabled services for St Peter's Basilica, allowing virtual access to its Renaissance-era architectural treasures for all and enhanced tours for visitors.
Read more »
Upcoming hydrogen-ready power plant will provide ‘very competitive pricing’ for consumers: YTL PowerSeraya CEOThe power station on Jurong Island will be ready by the end of 2027 and be able to power about 864,000 four-room Housing Board flats per year.
Read more »
Germany's SAP to 'over proportionally' hire in India, CEO saysBENGALURU : Business software maker SAP will hire "over proportionally" in India, which will soon house its biggest workforce, overtaking the headcount in its German headquarters, CEO Christian Klein said on Wednesday.
Read more »
Amazon CEO denies that 5-day office mandate is ‘backdoor layoff’Staff who are consistently not in compliance have been told they will be “voluntarily resigning”.
Read more »