Sweden’s Northvolt has agreed to divest its Systems Industrial division, a key developer and manufacturer of battery systems for heavy industry sectors.
Northvolt’s Systems Industrial division will be acquired by truckmaker Scania, reported Reuters.
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The division, established in 2018, employs around 300 individuals across facilities in Stockholm, Sweden, and Gdańsk, Poland.
The division offers battery modules and systems for various industries, including material handling, construction equipment, mining, agriculture, and municipal services.
A Scania spokesperson was quoted by the news agency as saying: “This acquisition will provide access to a highly skilled and experienced team and a strong portfolio of battery systems built in Gdansk for industrial segments, such as construction and mining, complementing Scania’s current customer offering.”
Northvolt and the acquiring entity will structure a deal that ensures the transfer of all necessary assets, employees, and contracts.
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By GlobalDataThis move aims to guarantee uninterrupted operations of the industrial business.
Post-acquisition, the division is set to continue its operations, with all contracted orders for this year to be fulfilled as scheduled.
This transaction forms part of Northvolt’s review to focus on its primary business of large-scale cell manufacturing.
The acquisition is subject to regulatory approvals and the finalisation of binding agreements.
Northvolt Systems Industrial vice-president Elin Åkerström said: “We are pleased to have arrived at this agreement which aims towards securing a bright future for the people, technology and products of Northvolt Systems Industrial.
“In a short time, we have built a team of experienced experts who have developed prototypes from the ground up and integrated an advanced portfolio of industry-leading products into serial production.
“We have sold over 3,300 of our Voltpack Core products and achieved approximately 10 million hours of runtime for individual battery packs.”
In October 2024, Northvolt filed for US Chapter 11 bankruptcy protection after production issues and unsuccessful fundraising efforts.
The sale of Northvolt Systems Industrial follows similar divestments to companies such as Norsk Hydro and Volvo Cars, as Northvolt aims to reduce costs and focus on its battery plant in northern Sweden.
