Northvolt's press spokesperson Erik Zsiga confirms the information.
Paul O'Donnell, with a background in the venture capital firm Blackstone, has previously taken on the role of chairman in several companies with major financial problems, and according to Zsiga, O'Donnell is "relevant for Northvolt One considering the strategic review".
Northvolt is, according to several media outlets, close to making a decision to file for bankruptcy or reconstruction under bankruptcy protection in the USA, according to Chapter 11 of the American bankruptcy law.
The company's crisis follows a year marked by delayed deliveries and problems in increasing the volume of high-quality battery production, which, among other things, led to the German car manufacturer BMW withdrawing an order worth over 20 billion kronor in June.
The battery manufacturer has since September shut down several major investments, laid off one-fifth of its staff, and put its subsidiary Northvolt Expansion – which was building a new battery factory – into bankruptcy with several billion kronor in debt.
