Still western batteries
Lyten, An American Start-Up Supported by Automaker Stellantis, Among Others, is Buying the Lion’s Share of the Bankrupt European Battery Manufacturer North Volt. So There is Still Some Hope for Europe’s Intended Battery Giant.
It Seemed So Beautiful: North Voltt would Become Europe’s Major Battery Manufacturer and Play a Serious Role in the Global Market for EV Batteries. However, The Swedish North Volt Failed to Become Profitable or Promising in Time, So The Company Went Bankrupt in March.
Fortunately, It has now leg Possible to Find a Buyer for What Remains of North Volt after That Bankruptcy. That buyer is called lyten and is a similar, but American company, which is supported by Stellantis, Fedex and the American Government, Among Others. Lyten had already opened a European headquarters in Luxembourg and Therefore Seems to Have a Healthy Focus on Our World Region. The Americans Are Buying All Kinds of German and Swedish Departments and Factories From Northvolt, also Taking over Staff and Paying A Total of 5 Billion Dollars. In Return, They Receive 16 GWH of Existing Production Capacity and 15 GWH or Potential Extra Capacity, Plus Plans to Expand All Of That To A Total of 100 GWH.
On paper, it already looks good for anyone still connected to north volt. Lyten Says It Plans to use European Knowledge and Skills As Much As Possible, Sees the Value of Local Expertise and Says It Wants To Commit To Creating Permanent, Secure Jobs, Starting With The People who Already Worked For North Volt. The Swedish Government Reacts Enthusiastically Through Deputy Prime Minister Ebba Busch: “The Acquisition of North Volt’s Assets by Lyten Is A Victory for Sweden, For North Volt’s Former Employees and For Sweden’s Key Role in Creating Energy Role in Creeding Energy Role in Creeding Energy Role in Creeding Energy Role in Creeding Energy Role in Creeding Energy Role.” ”” ”” ”” ”” The Step also Seems Like Good News For Creating a Western Response to the Dominance of Chinese Companies in The Battery Market.