Overview

• The agreement covers Northvolt Ett and its expansion in Skellefteå, Northvolt Labs in Västerås and Northvolt Drei in Heide along with all remaining Northvolt intellectual property
• Lyten gains control of over $5 billion in manufacturing assets, comprising 16 GWh of live lithium-ion output and over 15 GWh still being built
• The company will seek regulatory approval by year-end to restart operations at Skellefteå and Västerås and begin fulfilling customer orders
• Several former Northvolt executives are set to join Lyten as it integrates its lithium-sulfur technology with the acquired lithium-ion infrastructure
• Backed by Stellantis and FedEx, Lyten’s expanded European footprint aims to reduce reliance on Asian battery suppliers and bolster local production