European battery systems manufacturer Northvolt has sold its electric battery pack business for heavy vehicles to manufacturer Scania.
This week Northvolt announced it had signed a sale and purchase agreement to an unnamed leading industrial group for the acquisition of its systems industrial division, which develops and manufactures battery systems for the heavy industry and off-highway market segments.
Following this, Scania confirmed to Reuters that it was the purchaser of the unit, deciding to fit the business into its power solutions division.
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.
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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 says it’s aligned with the buyer on the shared 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.
“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,” Northvolt chief operating officer Matthias Arleth says.
“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.”
The sale is now awaiting regulatory approval before it’s made official.
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