Northvolt was once the darling of European tech. The Swedish company, with its many billions in funding and its sprawling gigafactory, was tipped to be the beating heart of Europe’s ambitions to build electric car batteries. That dream came to a crashing halt last month when Northvolt filed for Chapter 11 bankruptcy protection in the US after much speculation about the company’s future. The turn of events showed that the company had $5.8 billion in debt that it needed to manage. Chapter 11 bankruptcy protection will allow the company to restructure its debt and raise new funding to shore up…

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