The Swedish government has approved the takeover of the insolvent battery manufacturer Northvolt by US group Lyten. All remaining sites are to be retained, including the battery cell factory under construction in the German city of Heide with a planned initial capacity of 15 gigawatt-hours per year.
600-million-euro KfW bank loan
Lyten had previously acquired Northvoltʼs plants in California and Gdansk. The project in Heide is to continue despite the insolvency after the state-owned KfW banking group provided a loan of 600 million euros for it. The transaction is expected to be completed by the end of October 2025.
Sources:
https://www.zeit.de/wirtschaft/unternehmen/2025-09/batteriehersteller-northvolt-uebernahme-us-firma-lyten-genehmigung
https://www.ndr.de/nachrichten/schleswig-holstein/northvolt-genehmigungen-fuer-uebernahme-durch-lyten-erteilt,lyten-112.html
