Northvolt AB Chief Executive Officer Peter Carlsson is stepping down as the Swedish battery maker embarks on a restructuring under bankruptcy court protection.Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureTrump Promises Could Have Seismic Impact on Washington EconomyNYC Gets Historic Push for 80,

The CEO of Northvolt, Peter Carlsson, today resigned amongst ongoing fallout from the Swedish EV battery maker’s U.S. Chapter 11 bankruptcy filing.

The Swedish battery maker said Carlsson will become a senior adviser as the company enters U.S. bankruptcy and initiates a debt restructuring. The search for a new chief executive is underway.