Lyten has announced that it is acquiring manufacturing assets from Northvolt, a Swedish battery manufacturer facing financial difficulties.
Northvolt is selling manufacturing equipment the company inherited in its 2021 acquisition of Cuberg, another battery startup. Lyten will also assume the lease of Cuberg’s old manufacturing facility in San Leandro, California. Lyten will invest $20 million next year to expand facilities in San Leandro and its existing operations in San Jose.
Lyten has announced that it is acquiring manufacturing assets from Northvolt, a Swedish battery manufacturer facing financial difficulties.
Northvolt is selling manufacturing equipment the company inherited in its 2021 acquisition of Cuberg, another battery startup. Lyten will also assume the lease of Cuberg’s old manufacturing facility in San Leandro, California. Lyten will invest $20 million next year to expand facilities in San Leandro and its existing operations in San Jose.
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