Northvolt, a major Swedish battery maker, filed for bankruptcy in the U.S., seeking to restructure the debt it had taken on to pay for its rapid expansion.

Northvolt, the Swedish maker of battery cells for electric vehicles, said on Thursday it has filed for Chapter 11 bankruptcy protection in the U.S., and said it has secured $100 million in new financing for the process.

Northvolt enters Chapter 11 reorganization to secure $145 million cash collateral and $100 million financing. Operations in Germany, Canada, and Sweden will continue, ensuring obligations to stakeholders are met.