US EditionLyten says auto deals will take time as it takes over Northvolt assets
- Friday's statement from Lyten said the purchase of Northvolt's Swedish assets was finalised, valuing the deal at 45 billion kronor, nearly $5 billion.
- After Northvolt filed for bankruptcy in March 2025, Lyten first announced the purchase in August 2025, but the acquisition process experienced several delays before completion.
- Lyten plans to immediately begin restarting Northvolt Ett in Skellefteå and Northvolt Labs in Västerås, creating the Lyten Industrial Hub and hiring 600 people over the next 12 months.
- Lyten expects commercial sales in the second half of 2026 to supply Northvolt Dwa in Poland and is progressing acquisition of Northvolt assets in Heide, Germany.
- EU policy frames batteries as a strategic product, and Lyten says its Skellefteå hub will use hydropower to co-locate manufacturing with AI data centres, boosting Sweden's industrial role.
22 Articles
22 Articles
Lyten says auto deals will take time as it takes over Northvolt assets
Lyten will initially target markets such as energy storage and data centres as it will take time before it can supply automakers, the battery startup told Reuters on Friday, as it completed its purchase of bankrupt Northvolt's Swedish assets.
Lyten completes $5 billion Northvolt Sweden acquisition, targets battery sales in H2 2026
US battery maker Lyten has completed its nearly $5 billion acquisition of bankrupt Swedish firm Northvolt’s key assets, including 16 GWh of capacity and Europe’s largest battery R&D centre, with commercial sales targeted for the second half of 2026
The deal is now complete. "We are pleased that battery production can now resume in Skellefteå."
American company Lyten completes purchase of Sweden's Northvolt
Lyten, an American lithium-sulphur battery and energy storage company, announced today that it has completed its purchase of the former Northvolt factories in Skellefteå and Northvolt Labs in Västerås. The deal is valued at 45 billion kronor.
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