Overview

• Lyten’s binding agreement covers Northvolt’s main and expansion plants in Skellefteå, its research centre in Västerås, the under-construction Heide gigafactory and all related intellectual property.
• The assets were previously valued at about $5 billion, representing 16 GWh of existing production capacity and roughly 15 GWh under development.
• Lyten aims to complete the deal in the fourth quarter once it secures approvals from Swedish, German and EU authorities and finalises terms on €600 million in KfW-backed loans and €700 million in EU subsidies.
• The US firm plans to immediately restart battery production at the Swedish sites and resume construction at Heide, with commitments to rehire workers laid off during Northvolt’s insolvency.
• The transaction underscores the financial and regulatory challenges of executing large-scale, state-supported green-technology projects across Europe.