California Start-Up Will Buy Assets of Bankrupt Swedish Battery Maker
Lyten will acquire German and Swedish factories built by Northvolt, which declared bankruptcy in March.
Swedish Battery Maker Northvolt Collapses, a Blow to Europe
The company and its assets will be sold after it filed for bankruptcy in Sweden, sinking Europe’s best hope for competing against Asian rivals.
Northvolt, Europe’s Hope for a Battery Champion, Files for Bankruptcy
The company’s woes are symptomatic of a wider malaise among companies that make batteries for electric vehicles.
Battery Maker Northvolt to Cut Costs as E.V. Demand Slumps in Europe
The Swedish battery manufacturer said it would eliminate jobs and seek partnerships as it grapples with competition from China.