The day after the battery manufacturer Northvolt filed for bankruptcy protection under American law, everything suddenly happened very quickly. On Friday morning, the Swedish start-up, which had previously raised around ten billion dollars from investors, announced that Peter Carlsson was stepping down as CEO. This marks the end of the rise of a beacon of hope who wanted to build a battery cell giant in Europe practically from nothing, and thus also a bulwark against China, which has so far dominated the world market.
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