Good news for the future of Swedish batterytech with news today that Swedish truck manufacturing Scania has acquired the Industrial Division of Northvolt System. This includes production capabilities, an R&D centre, and a team of approximately 260 employees.
Northvolt filed for bankruptcy a month ago citing the compounding challenges affecting the sector in recent months, including, “rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand.”
Northvolt Systems Industrial Division develops and manufactures battery systems for heavy industry and off-highway market segments, offering a portfolio of battery modules and systems used in material handling, construction equipment, and mining.
The acquired company will be a partner to Scania's business unit Power Solutions. This will add on to Scania's offering as part of a diversified product portfolio and strengthen its electrification offering for off-road applications.
"Northvolt Systems Industrial Division brings valuable expertise in battery technology and assembly. Their capabilities strengthen our modular approach and support the development of complete electrified solutions for off-road applications. I'm pleased to welcome the team to Scania," says Sara Hermansson, Head of Scania Power Solutions.
The acquired business will be a partner to Scania Power Solutions and operate as a stand-alone venture within Scania Ventures and New Business.
Jonas Hernlund, Head of Energy & Infrastructure at Scania Ventures and New Business shared:
"This acquisition demonstrates how Scania Ventures and New Business leverage our capabilities in opportunity identification, M&A, and growth-stage company management to enable our core business and enhance our position as a transformation partner for our customers — all in support of a more sustainable transport system."
According to Elin Åkerström, Vice President Northvolt Systems Industrial:
"Since 2017, Northvolt Systems Industrial has developed advanced battery systems for machines operating in demanding environments such as construction, mining, and material handling. Our flagship solution, Voltpack Core, reflects our ability to meet real-world industrial challenges.
Joining Scania marks the next chapter in our journey. This acquisition brings together two strong legacies in electrification and powertrain innovation. I am confident that, together, we will strengthen our capabilities and deliver even greater value to our customers."
Scania and the trustee have agreed on a deal that ensures the continuation of operations. Following the acquisition, Northvolt Systems Industrial's operations will continue with business as usual.
The operations are based in two locations: a leased production facility in Gdańsk, Poland, and an R&D centre in Tomteboda, Stockholm, Sweden.
Lead image: Scania. Photo: uncredited.
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