According to a report by Reuters, the division will be taken over by truck manufacturer Scania.
Founded in 2018, the division employs approximately 300 staff members across its facilities in Stockholm, Sweden, and Gdańsk, Poland.
It provides battery modules and systems for a range of industries, including material handling, construction, mining, agriculture, and municipal services.
A spokesperson for Scania stated, “This acquisition will grant us access to a highly skilled and experienced team, along with a robust portfolio of battery systems developed in Gdańsk for industrial sectors like construction and mining, enhancing Scania's existing customer offerings.”
Northvolt and Scania will arrange a deal that facilitates the transfer of all essential assets, personnel, and contracts.
This initiative is designed to ensure the seamless continuation of the industrial business's operations.
Following the acquisition, the division will maintain its operations, with all orders scheduled for this year to be completed as planned.
This transaction is part of Northvolt's strategic review to concentrate on its core business of large-scale cell manufacturing.
The acquisition is contingent upon regulatory approvals and the finalization of binding agreements.
Elin Åkerström, the vice-president of Northvolt Systems Industrial, expressed satisfaction with the recent agreement, stating that it is designed to ensure a promising future for the personnel, technology, and products associated with 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 sought Chapter 11 bankruptcy protection in the United States due to production challenges and failed fundraising attempts.
The divestiture of Northvolt Systems Industrial aligns with previous sales to companies like Norsk Hydro and Volvo Cars, as Northvolt aims to streamline costs and concentrate on its battery manufacturing facility in northern Sweden.
The article "Northvolt to divest heavy industry battery business to Scania" was initially published by Just Auto, a brand owned by GlobalData.