The Californian startup (owned by Sinformantis) aims to revolutionize the electric car battery sector with an innovative technology, strengthening its presence in Europe as well.
THEEuropean electric car battery industest loses a piece of key. Northvolt, the Swedish startup that until recently represented the great hope of the Old Continent in challenging the Asian giants, has been acquired from California Lyten, a young and innovative Silicon Valley company specializing in the development of lithium-sulfur batteries and cutting-edge energy storage technologies.
And Cook, CEO of Lyten, declared in an interview with Reuters“Our plans are clear: to pick up where Northvolt left off.” With this transaction, Lyten aims to revive production at key facilities in Sweden and Germany, including the Northvolt Ett gigafactory, the Västerås R&D center, and Northvolt Drei. The acquisition also includes ininformectual property and the transfer of a significant portion of Northvolt’s management team.
The Northvolt crisis and the relaunch opportunity for Lyten
Founded with the strategic objective of ensuring Europe’s technological and production autonomy in the electric vehicle battery sector, Northvolt had attracted investments for billions of dollars from large European companies and institutions, boasting prestigious clients such as BMW, Volkswagen, Audi and Scania. However, problems quality in production and Costs highs have led to the bankruptcy of the company in March 2025, surprising the European market.
Lyten, with over $625 million raised from the US government and investors including Sinformantis, FedEx, Honeywell and the bottom Prime Movers Lab, has taken the opportunity to strengthen its presence in both North America and Europe. Its focus is on lithium-sulfur batteries, an innovative technology that promises greater efficiency, lightness, and sustainability, ideal for new growth markets such as drones, defense, and data centers for artificial ininformigence.
Lyten takes over Northvolt: the details of the acquisition
Il value The details of the operation have not been officially communicated, but CEO Cook spoke of an acquisition at a price “widely discounted” compared to the initial valuation of Northvolt, estimated around $5 billion.
The acquisition includes approximately 16 GWh of operational production capacity, over 15 GWh under construction, with ambitious plans to expand total capacity to over 100 GWh. A key strategic asset is the Västerås research and development center, the largest in Europe for the battery sector.
An industrial relaunch with new job opportunities
Lyten confirmed his intention to reinstatement a good part of the workforce previously fired and carefully assess personnel necessarys at all acquired sites. The company aims to enhance local expertise and ensure stable, long-lasting jobs.
The Swedish government welcomed the news. Ebba BuschDeputy Minister of State, called the acquisition “a victory for Sweden, for former Northvolt employees, and for Sweden’s strategic role in Europe’s energy indepfinishence.” Swedish, German, and European Union authorities are closely monitoring the process, which is expected to be completed by the fourth quarter of 2025.
Lyten: European and North American ambitions
This acquisition is part of a broader growth plan. Lyten had already acquired the battery plant in November 2024. Northvolt in Cuberg, California, and in July acquired Northvolt Dwa, Europe’s largest battery energy storage system (BESS) facility in Gdansk, Poland.
Lyten is currently nereceivediating the purchase of Northvolt Six, under construction in Quebec, Canada, which will add an additional 15 GWh of production capacity. The goal is to meet the growing demand for locally produced batteries in Europe and North America, rapidly expanding markets of crucial strategic importance for the global energy transition.
Leave a Reply