Northvolt AB said it still plans to go ahead with constructing its electric vehicle battery manufacturing plant in Quebec, despite its parent company filing for bankruptcy in the United States and the CEO recently resigning.

Co-founder and CEO Peter Carlsson resigned on Tuesday with the company’s chief financial officer Pia Aaltonen-Forsell taking over as interim CEO.

Northvolt would require between $1 billion and $1.2 billion in fresh funding to stabilize its finances and survive the bankr