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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.