Struggling Northvolt to sell off battery systems development division
18 feb. 2025
10:26
Sweden’s strained battery giant has just signed a deal with European truckmaker Scania. Scania will acquire Northvolt Systems Industrial division, which develops and makes battery systems for heavy industry.
Northvolt announced in a press release on Tuesday that it had signed an agreement with what it described as a “leading industrial group”, which would acquire the Northvolt Systems Industrial division. Impact Loop understands that this is the European truck maker, Scania. Reuters also reports that Scania has signed on the dotted line, adding that both companies have refused to comment on how much money is changing hands.
Northvolt Systems Industrial was set up by Northvolt in 2018. It has been operating in parallel to the company’s main electric car battery business, producing battery models and systems for industries including material handling, construction equipment, mining, agriculture, and municipal services.