Swedish commercial vehicle manufacturer Scania has finalized the acquisition of Northvolt’s heavy-duty industrial battery pack division, marking the first asset sale since Northvolt filed for bankruptcy in March. The financial terms of the transaction were not disclosed.
The business unit, previously known as Northvolt Systems Industrial, produces battery systems for heavy machinery and equipment used in sectors such as construction and mining. It operates a production facility in Poland and a research and development center in Sweden. Around 260 employees are part of the division, which will continue normal operations under Scania’s ownership.
Scania, a subsidiary of the Volkswagen Group’s Traton division, originally proposed to acquire the unit for $6 million in February. The deal was temporarily suspended after Northvolt initiated insolvency proceedings, one of Sweden’s most prominent corporate bankruptcies in recent history.
The acquisition aligns with Scania’s strategy to strengthen its position in electrification, particularly in off-road applications. The company stated that Northvolt’s expertise in battery technology and assembly will support its efforts in modular electrification solutions.
Northvolt had been working to sell off non-core assets in an attempt to stabilize its core electric vehicle battery cell business. Scania’s acquisition of the industrial battery unit is seen as a step toward preserving parts of the company’s technology base.
