Concern grows as Lyten’s Northvolt takeover drags on: 'Buying was the easy part'
15 jan. 2026
12:19
When US battery company Lyten agreed to buy Northvolt out of administration in August, many breathed a sigh of relief.
Some of that optimism has since faded. The funding needed to complete the acquisition has yet to be secured, and concern is growing in the town of Skellefteå, home to Northvolt’s flagship factory.
Impact Loop has spoken to several industry experts about what it would take for Lyten to finalise the deal – and whether it could realistically restart production.
“Buying a bankrupt estate is the easy part, what happens after will be much harder," one of the people said.
Some of that optimism has since faded. The funding needed to complete the acquisition has yet to be secured, and concern is growing in the town of Skellefteå, home to Northvolt’s flagship factory.
Impact Loop has spoken to several industry experts about what it would take for Lyten to finalise the deal – and whether it could realistically restart production.
“Buying a bankrupt estate is the easy part, what happens after will be much harder," one of the people said.
In August, the US battery company Lyten, led by Silicon Valley tech figure Dan Cook, was presented as the new owner of Northvolt, which filed for bankruptcy in March. The news was greeted with cheers from politicians and local residents alike.
However, the deal has yet to be completed, and according to information provided to Swedish newspaper Svenska Dagbladet, Lyten is struggling with financing.