US start-up Lyten acquires Northvolt's main assets

California-based start-up Lyten has acquired the main assets of the now bankrupt battery manufacturer: the Skelleftea plant, the R&D department in Vasteras, and the Heide plant project in Germany. The amount of the transaction has not been disclosed. Lyten's investors include Stellantis, FedEx, Honeywell, and McKinsey. Lyten plans to expand beyond batteries for electric vehicles. The transaction must be approved by the German and Swedish governments. Northvolt filed for bankruptcy in March.