The sale of Northvolt's battery factory in Skellefteå and its development facility in Västerås is now complete. The U.S. battery company Lyten has acquired the factories, the headquarters in Stockholm, and all intellectual property. The deal also includes Northvolt’s shares in the projects Northvolt Drei in Germany.
This sale would not have been possible without extraordinary efforts from a large number of individuals: employees of Northvolt, around 25 staff members from all offices of Ackordscentralen, legal advisors from firms including Cederqvist, Milbank, and Lindahl, financiers, Scania, the municipality of Skellefteå, Business Sweden, the Swedish government, labor unions, and many others.
Northvolt's bankruptcy in March 2025 became the largest in modern Swedish history, with nearly 80 billion in debt and around 5,000 employees. The bankruptcy is also one of the largest industrial insolvencies in Europe in modern times. The challenges have been both difficult and complex. The situation was particularly critical in Skellefteå, where the factory completely lacked liquid funds.
Thanks to the dedication of the staff and enormous support from Scania, production was temporarily resumed during the spring. This bought valuable time, and negotiations could begin. However, when production ceased, the business was left without revenue. Potential buyers chose not to proceed. Planning for a complete shutdown began, but hope for a restart remained, especially among employees and the local community.
In June, new interested parties emerged, and after an extremely intensive effort since then, the negotiations finally led to an agreement with Lyten. Certain conditions remain before the deal can be finalized, including regulatory approvals in Sweden, Germany, and Canada. What remains to be sold afterward is the recycling facility Revolt, but even there, a solution is beginning to take shape.
With this sale, the conditions now exist to carry forward Northvolt's vision of sustainable battery production, European energy independence, and new job opportunities.
/Statement från trustee Mikael Kubu
