Lyten Acquires Northvolt Assets, Aims to Revive European EV Battery Industry

Lyten, a US startup, has agreed to acquire Northvolt's remaining assets in Sweden and Germany. Northvolt, a European battery cell production pioneer, collapsed in March due to struggles scaling output. Lyten develops lithium-sulphur battery cells, which could compete with conventional lithium-ion technology and potentially reduce European reliance on China. Lyten has raised over $625 million from investors including Stellantis, FedEx, and the US government.

Lyten, a U.S. startup specializing in lithium-sulfur batteries, has entered into a binding agreement to acquire Northvolt's remaining assets in Sweden and Germany. This acquisition follows Lyten's previous purchases of Northvolt assets, including its Cuberg facility in California and Northvolt Dwa in Poland, aiming to bolster its presence in the European market [1].

Northvolt, once hailed as Europe's homegrown battery champion, filed for bankruptcy in March due to operational challenges and scaling issues. The acquisition of its remaining assets by Lyten could potentially revive the European battery industry, reducing its reliance on Chinese competitors [1, 2, 3].

Lyten's acquisition includes Northvolt Ett and Ett Expansion in Skellefteå, Sweden, Northvolt Labs in Västerås, Sweden, and Northvolt Drei in Heide, Germany. Additionally, Lyten is acquiring all remaining Northvolt intellectual property (IP) [1]. The deal is expected to bring significant job opportunities and economic benefits to Sweden and Germany, with Lyten planning to restart operations at these facilities [1, 2].

Lyten CEO Dan Cook stated that the acquisition is a strategic move to accelerate the company's mission of becoming the leading supplier of clean, locally sourced, and manufactured batteries and energy storage systems in North America and Europe. The company is committed to working with the Swedish and German governments to expand facilities at these locations [1, 2].

The acquisition price was not disclosed, but Lyten confirmed it is buying the assets at a "significant discount" to their estimated value of roughly $5 billion [2]. Lyten has raised over $625 million from investors including Stellantis, FedEx, and the U.S. government, providing it with the financial backing to support these acquisitions and expansion plans [3].

Lyten plans to immediately restart operations in Skellefteå and Västerås, with production initially focusing on lithium-ion batteries before transitioning to dual chemistry production, which will also enable the production of lithium-sulfur batteries [2]. The company is also actively progressing discussions to acquire Northvolt Six in Quebec, Canada, and is working with the governments of Quebec and Montreal on this potential acquisition [2].

The acquisition of Northvolt's remaining assets by Lyten marks a significant development in the European battery industry, potentially offering a way back for Europe to become more self-sufficient in battery production [1, 2, 3].

References:
[1] https://northvolt.com/articles/lyten-to-acquire-all-remaining-northvolt-assets-in-sweden-and-germany/
[2] https://www.bloomberg.com/news/articles/2025-08-07/us-battery-startup-lyten-buys-what-s-left-of-northvolt-in-europe
[3] https://www.investing.com/news/stock-market-news/us-startup-lyten-to-buy-troubled-european-battery-maker-northvolt-4177425