Swedish commercial vehicle manufacturer Scania has announced the acquisition of the Industrial Division of Northvolt Systems.
The battery maker Northvolt filed for bankruptcy just last month in Sweden, supposedly due to “rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand”.
Scania’s purchase includes production capabilities, a research and development centre and a team of approximately 260 employees.
The company’s Industrial Division develops and manufactures battery systems for heavy industry and off-highway market segments and will become a company partner to Scania’s business unit Power Solutions.
Sara Hermansson, Head of Scania Power Solutions, said:
“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.”
The acquired business will be a partner to Scania Power Solutions and operate as a stand-alone venture within Scania Ventures and New Business.
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