Northvolt, the Swedish battery maker once hailed as a cornerstone of Europe’s electric vehicle (EV) battery production, has filed for Chapter 11 bankruptcy protection in the United States, marking a s

Northvolt's financial collapse deals a blow to Europe's plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals.

Northvolt transformed in a matter of months from Europe's best shot at a homegrown electric-vehicle battery champion to a struggling company.