Northvolt

Lyten buys battery manufacturing assets from beleaguered Northvolt

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[ad_1] Lyten, a Silicon Valley battery startup, announced today that it’s acquiring manufacturing assets from Northvolt, a Swedish battery manufacturer that’s facing a cash crunch. As part of the deal, Northvolt is selling manufacturing equipment the company inherited in its 2021 acquisition of Cuberg, another battery startup. Lyten will also assume the lease of Cuberg’s … Read more

Northvolt lays off 1,600 workers, but it’s not the end for Europe’s battery champion

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[ad_1] When is raising $14 billion not enough? When you’re a battery startup. Northvolt, Europe’s attempt at building a competitor to Asia’s battery manufacturing powerhouses, announced on Monday that it had halted work on a factory expansion and laid off 1,600 employees, or about 20% of the workforce. The company was planning to expand its … Read more

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