US startup Lyten has stepped up again to buy Northvolt’s Swedish and German assets, continuing its takeover of the failed battery giant’s $5 billion manufacturing empire. The move marks a major shift in Europe’s battery landscape.


Image: Lyten, Northvolt

From ESS News

US lithium-sulfur battery manufacturer Lyten has agreed to acquire Northvolt’s remaining assets in Sweden and Germany, in a deal that underscores the growing role of US capital in Europe’s battery sector.

The acquisition covers Northvolt Ett and Ett Expansion in Skellefteå, Northvolt Labs in Västerås, and Northvolt Drei in Heide, as well as all remaining Northvolt intellectual property. Multiple members of Northvolt’s executive team are expected to join Lyten. Financial terms were not disclosed.

The portfolio, previously valued at around $5 billion, adds 16 GWh of operational manufacturing capacity and more than 15 GWh under construction. Lyten says the sites have the infrastructure to scale beyond 100 GWh. The Västerås facility is described as the largest battery R&D center in Europe.

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