Two months after Northvolt, two of the former top executives filed for bankruptcy after being hailed as a European answer to Tesla, are in the spotlight with new bets on AI-powered manufacturing.
According to Bloomberg, former CEO of the company Peter Carlson and Siddharth Khler, who led the AI initiative, have launched a new industrial software venture in Sweden. Still unknown and operating in stealth, the startup focuses on using machine learning to help factories streamline production, predict maintenance issues, and get smarter with improved quality control.
“Two former executives at Northvolt AB, a bankrupt battery manufacturer, will launch a new venture in Sweden, leveraging artificial intelligence to help with the manufacturing process,” Bloomberg reported.
The team is expected to grow to around 20 people, and Carlson and Kler are expected to develop a platform that plugs into existing systems to deliver operational improvements without the need for large-scale infrastructure changes.
Peter Carlson bounces back at AI startup following Northbolt’s collapse
Having spent years on Northvolt on one of Europe’s most ambitious battery plays, Carlson is heavily drawn in from both his experience at Northvolt and his time at Tesla, who managed the global supply chain before collapsed before falling below $5.8 billion in debt.
Bloomberg added that Carlson has taken a large stake in the new company. The funding round (although numbers are not revealed) attracted prominent VCs from both Europe and Silicon Valley, particularly those focusing on industrial technology.
This timing coincides with increasing demand from manufacturers looking to reduce costs and navigate unstable supply chains. This new venture aims to meet these needs with smarter adaptive software rather than hardware.
Northvolt’s bankruptcy is on the background, but according to sources close to the deal, Carlsson’s involvement was actually a key factor in bringing investors in it. His name still weighs heavily, especially in hardware and production circles, and he sees this move as an opportunity for red after North Bolt’s collapse.
Reuters adds that the new venture is developing tools that will help fine-tune production schedules and use real-time data to enhance quality checks before predicting equipment failures. This is a segment of the AI market, and it’s rapidly growing, and Carlson’s timing could work in his favour.
The Financial Times notes that while tech giants like Siemens and GE already offer similar industrial AI tools, Carlsson startups can open up space by moving faster and focusing more. His networking and execution track record can give the team an early advantage.
From a startup ecosystem angle, reports show that the Nordic region is beginning to gain traction as a serious player in AI, and this new venture can add more fuel to its momentum. A recent post on X highlighted Carlson’s stock and suggested that the startup could become one of the more meticulously viewed newcomers in the industrial AI scene.
Carlson’s move comes after Northbolt struggled to fulfill his ambitious promise. When viewed as a European battery hope, the company faced years of delays, bulging costs and missed targets. Despite raising billions and securing well-known partners like Volkswagen and BMW, it eventually collapsed under financial pressure. Bankruptcy has highlighted the risks of capital-intensive startup scaling in a volatile economy.
However, this is not Carlson’s first reinvention. And if the funds are any indication, that’s not his last shot.
With AI now restructuring how factories think and operate, Carlson’s smart manufacturing bet feels more than just a pivot. That’s the second act. This time he focuses on solving its lean, data-driven, daily factory handling.
How far it goes depends on how quickly a startup can deliver real results, and whether Carlson’s past helps or bothers him.
According to Bloomberg, the North Bolt struggle has been exacerbated as the German auto sector faces increased pressure from low-cost Chinese EV imports over the past three years. The collapse of startups will hit Europe’s plans to secure a battery supply chain. Northbolt once operated under the slogan “Make Oil History.”
Founded in 2016 by former Tesla executive Peter Carlson and former Airbus manager Paolo Celti, Northvolt has attracted attention for EVS and energy storage lithium-ion batteries. The company has established a partnership with Volkswagen, BMW and ABB with the aim of providing sustainable, high-quality batteries for the European green energy future. However, delays and escalation costs have led to the elucidation of their finances.
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