Northvolt AB, a Swedish EV battery manufacturer, has received shareholder approval to continue operations while pursuing new funding through Chapter 11 restructuring. The company, burdened with $5.8bn in debt and only $30m in cash, aims to complete the restructuring by Q1 2025. Major shareholders include Volkswagen and BMW. Northvolt's flagship gigafactory is in Skellefteå, Sweden. The company faces challenges from increased competition, particularly from China, and struggles with production issues and funding. Teljes cikk (Euronews.com)