Jan 30 (Reuters) - Northvolt's co-founder Paolo Cerruti will step down from his role as

chief executive officer of its North American division, the Swedish electric-vehicle battery

maker said on Thursday.

Karen Chang - who has played a key role in the Quebec, Canada-based battery gigafactory, Six

project - will serve as interim CEO in the transition period.

Cerruti will retain his role as chairman of the board of the Canadian entity, the statement

said, adding that he will remain involved in the ongoing development of Northvolt Six.

This comes after CEO and co-founder Peter Carlsson stepped down in November just a day after

the company filed for U.S. Chapter 11 bankruptcy.

Both founders worked together in supply chain and operations for Tesla in 2015 and

founded the Swedish company in October 2016 with the goal of creating a sustainable battery

industry in Europe.

In the bankruptcy filing, Northvolt said its Canadian and German operations were not part of

the bankruptcy proceedings and that progress will continue. It initially said the Canadian plant

would begin operations in 2026, though the company has since said it will take longer.

In November, Reuters reported that Canada is not planning to invest anymore after the

federal and the Quebec provincial governments promised a contribution of $1 billion each for the

first phase of the construction.

Earlier this week, the company sold its stake in its joint venture with Volvo Cars

for an undisclosed sum and said it will explore potential collaborations in North

America.

Northvolt has asked more than 100 shareholders at a meeting this month to provide $1.29

billion over the next two years to help restore its business.