Lyten Completes Acquisition of Northvolt's Battery Assets in Sweden for Nearly $5 Billion
Lyten has finalized its acquisition of Northvolt's battery assets in Sweden, worth approximately $5 billion. The deal includes the Skellefteå facility, which will resume production of lithium-ion batteries by the second half of 2026, and Northvolt Labs in Västerås. Lyten plans to establish a Lyten Industrial Hub in Skellefteå to combine battery manufacturing and AI data centers, leveraging renewable energy sources. The company also aims to hire over 600 employees in the next year.
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Lyten has successfully acquired Northvolt's key battery assets in Sweden for nearly $5 billion, including the Skellefteå facility and Northvolt Labs in Västerås. The Skellefteå plant is set to restart production, delivering commercial lithium-ion batteries by the second half of 2026.
Simultaneously, Lyten will create a Lyten Industrial Hub to integrate battery production with AI data centers, utilizing renewable energy. The project is backed by investments from North American and European investors. Lyten plans to hire over 600 employees in the coming year as part of its expansion.
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