Stockholm (NordSIP) – In the latest development in the restructuring of Northvolt, the company announced it was selling the Northvolt Systems Industrial division, a developer and manufacturer of battery systems for the heavy industry and off-highway market segments, to an “unnamed leading industrial group”. Later in the day, Swedish industrial group Scania confirmed to media outlets it was the “unnamed leading industrial group” in Northvolt’s announcement. Scania was both a large customer and an investor in Northvolt. The sale of the division includes the Northvolt Dwa factory in Gdansk, Poland (Pictured).
The announcement is the latest in a series of developments related to the restructuring of Northvolt since the company applied for Chapter 11 bankruptcy protection in the USA at the end of November 2024. As reported last week, the company’s troubles have cost the Swedish public buffer AP funds SEK6 billion, as the pension funds have written down their collective investments in the battery manufacturer. This is also not the first time that Northvolt sells assets as part of this process. On January 20th, it announced it had sold NOVO Energy to Volvo Cars. On January 13th, Northvolt sold its stake in battery recycler Hydrovolt to Nork Hydro.
“It’s not an easy decision to separate from our colleagues at Systems Industrial, that has built such a strong business from scratch in a short time. However, the transaction is one more important milestone reached on our path to focus the company. Step by step we are getting closer to the sustainable and stable platform that is required for our future success,” Matthias Arleth, Northvolt Chief Operating Officer, said on this occasion.
Northvolt Systems Industrial division was established by Northvolt in 2018 and currently employs approximately 300 people in a battery systems prototyping facility located in Stockholm, Sweden, and Northvolt’s production facility in Gdańsk, Poland. It offers a portfolio of battery modules and systems supplied to customers in industries including material handling, construction equipment, mining, agriculture, and municipal services. It has been engaged in serial delivery from its production facility in Gdańsk to several customers, including: Epiroc, Konecranes, and Dynell.
“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. I’m excited to see the continued growth and development of Systems Industrial as a result of this acquisition,” Elin Åkerström, Vice President Northvolt Systems Industrial, added.
