US-based Lyten closes a deal worth nearly $5 billion and acquires Northvolt’s key assets in Sweden. Production in Skellefteå is set to resume before the end of 2026, and an industrial hub for batteries and data centers will be built in the north of the country. This is not only a rescue for the plant, but also a new chapter for the European supply chain. And, incidentally, a sad epilogue to the story of the Swedish company that was supposed to revolutionize the European battery market.
The American company has finalized the acquisition of the Northvolt Ett factory, along with the expansion in Skellefteå and the Northvolt Labs research and development center in Västerås. The package includes 16 GWh of production capacity, over 160 hectares of land, and Europe’s largest battery R&D center. The stakes? Rebuilding confidence in European cell production and strengthening its position against Asian competition.
With this acquisition, Lyten now manages one of Europe’s largest battery manufacturing campuses and the largest R&D center in the field. We have the infrastructure, talent, and technology to build a thriving battery ecosystem in North America and Europe, supported by local supply chains and local experts, to meet the rapidly growing global demand for distributed power infrastructure, said Dan Cook, CEO and co-founder of Lyten.
The acquisition of Northvolt. The end of the Swedish giant’s story
Until recently, Northvolt appeared to be the hope of the European battery industry, especially in the electric and hybrid car battery segment, which is dominated by imports from China. The company was founded in 2015 and, according to data from the Financial Times, raised approximately $15 billion from major investors (including Volkswagen, Goldman Sachs, and BlackRock).
The company even opened a plant in Poland. The factory in Gdańsk began operations in May 2023. It was closed in November 2024 after Northvolt announced the end of its operations in Poland and bankruptcy in the US. Less than a year ago, in mid-March 2025, the Swedish branch of the company also filed for bankruptcy.
Northvolt had attempted to open as many as six factories at the same time, which led to management problems. This was compounded by negative media attention. According to employee testimonies collected by the Financial Times, the company failed to comply with safety standards. Swedish television SVT revealed that the factory in Skellefteå was manufacturing batteries from components imported from China.
Restarting the line and resuming production
Northvolt collapsed under the weight of bad business decisions and controversy. Ultimately, last summer it was announced that the Swedish company’s assets would be taken over by the American company Lyten. Back in August, we reported that the factory in Gdańsk, which closed in 2024, had officially fallen into American hands. Now it is time for the finale of this story, namely the Swedish Northvolt plant.
The factory in Skellefteå is to be launched line by line. Commercial deliveries of cells are planned for the second half of 2026. Initially, these will be NMC lithium-ion cells for energy storage systems (BESS), automotive and broadly understood mobility.
At the same time, Northvolt Labs in Västerås is to develop long-life NMC cells and collaborate with the Lyten team in Silicon Valley on the industrialization of lithium-sulfur technology. It is this technology that is expected to provide a cost and energy advantage on a gigafactory scale in the future.
Lyten Industrial Hub and 600 new jobs
The Lyten Industrial Hub will be built in Skellefteå. It is a project combining battery production, AI data centers, and other strategic industrial activities. The location’s advantage is its access to clean hydroelectric power and ready-made infrastructure. Lyten announces the use of its own energy storage systems as part of the campus. The synergy of production and digital infrastructure is expected to increase the resilience and efficiency of the entire complex.
The company also announces intensive recruitment. Employment is expected to increase by more than 600 people within 12 months.
Batteries are currently a key element in ensuring energy independence and supporting the competitiveness of European industry, from automotive and aviation to data centers and energy grid resilience. We are combining the best innovations from Silicon Valley with Swedish engineering and manufacturing expertise to ensure the success of this venture,” said Lars Herlitz, CEO and co-founder of Lyten.
According to the new owners, the company will be guided by the idea that characterized Northvolt at the beginning of its operations: basing battery production on local European components and technology in order to become independent from Chinese imports. Will the implementation of these ideas be successful? The coming years of Lyten’s operations on the Old Continent will provide the answer.
