Swedish battery manufacturer Northvolt has signed a Sale and Purchase Agreement with an unnamed leading industrial group for the acquisition of Northvolt Systems Industrial division. Systems Industrial is a developer and manufacturer of battery systems for the heavy industry and off-highway market segments.
According to Reuters, Northvolt has sold its industrial battery pack division to long-time customer and partner Scania.
Northvolt Systems Industrial 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.
Northvolt and the buyer are aligned in their intent to structure a transaction that includes the transfer of all necessary assets, employees, and contracts required to ensure a seamless continuation of operations at the Industrial business. Therefore, following the acquisition, Northvolt Systems Industrial operations will continue, and orders contracted for the year 2025 will be executed as planned.
The transaction follows from decisions taken as part of Northvolt’s strategic review, which aimed at focusing the company around its core business of large-scale cell manufacturing.
Matthias Arleth, Northvolt Chief Operating Officer, commented: “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.”
Elin Åkerström, Vice President Northvolt Systems Industrial, commented: “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.”
Both companies wish to underscore that a transaction will be contingent upon satisfactory regulatory clearances and the execution of binding agreements.
