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2w ago

Lyten Seals Deal for Northvolt’s Swedish and German Gigafactories

The startup plans to restart European battery plants, aiming to resume lithium-ion cell deliveries in 2026

A view of Northvolt factory after the Swedish battery manufacturer filed for bankruptcy, in Skelleftea, Sweden, March 12, 2025. TT News Agency/Jonas Westling via REUTERS/File Photo
A man stands in front of the Northvolt Ett factory in Skelleftea, Sweden, November 27, 2024. REUTERS/Marie Mannes/File Photo
Northvolt logo is displayed at the battery manufacturer's office, after the company's bankruptcy announcement, in Stockholm, Sweden, March 12, 2025. TT News Agency/Jonas Ekstromer via REUTERS/File Photo
Northvolt Ett, the company's flagship Sweden gigafactory, which Lyten has acquired. Image: Northvolt.

Overview

  • Lyten entered a binding agreement on August 7 to acquire Northvolt Ett, Northvolt Labs, Northvolt Drei and all remaining Northvolt intellectual property
  • The acquired assets include 16 GWh of operational capacity at Skellefteå and over 15 GWh under construction in Germany, built with more than $5 billion of prior investment
  • Lyten secured over $200 million in July, backed by Stellantis and FedEx, following earlier purchases of Northvolt Dwa in Poland and lithium-metal specialist Cuberg
  • The company aims to immediately restart production at its Swedish and German sites and target first lithium-ion cell deliveries in 2026
  • Several former Northvolt executives are joining Lyten to help integrate its lithium-sulfur technology into existing lithium-ion manufacturing lines