Northvolt, the would-be flagship for European battery manufacturing, has been beleaguered for several years now, announcing major delays in early 2023. That became a trend which worsened with BMW cancelling a multi-billion-dollar order in June, and has now led to the Swedish company filing for Chapter 11 bankruptcy protection in the US. CEO Peter Carlsson, a former Tesla executive and Northvolt co-founder from 2016 – who has now stepped down – stated that the firm only had cash remaining for one more week of operations, that it had secured $100 million finance to support it through the bankruptcy process – but that between $1 billion and $1.2 billion would be needed to stabilize its finances. The company operates a battery…